Shares of Q2 Holdings, Inc. (NYSE:QTWO – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $44.64 and last traded at $44.7730, with a volume of 1039460 shares. The stock had previously closed at $47.00.
Wall Street Analysts Forecast Growth
QTWO has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a research note on Tuesday, April 21st. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of Q2 in a research report on Monday, May 4th. Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Morgan Stanley set a $63.00 price target on Q2 in a research report on Thursday, April 30th. Finally, UBS Group set a $77.00 price objective on Q2 in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.27.
Check Out Our Latest Analysis on QTWO
Q2 Price Performance
Q2 (NYSE:QTWO – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The company had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. Research analysts anticipate that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.
Insider Transactions at Q2
In other news, insider Kimberly Anne Rutledge sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.37, for a total value of $160,529.19. Following the completion of the transaction, the insider directly owned 80,551 shares in the company, valued at approximately $4,057,353.87. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 20,613 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $51.35, for a total transaction of $1,058,477.55. Following the transaction, the chief executive officer directly owned 483,202 shares of the company’s stock, valued at approximately $24,812,422.70. This represents a 4.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 411,087 shares of company stock valued at $20,702,472. Company insiders own 0.88% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Q2 by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock worth $5,226,000 after acquiring an additional 194 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Q2 by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock valued at $662,000 after purchasing an additional 197 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Q2 by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock valued at $1,032,000 after purchasing an additional 200 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after purchasing an additional 220 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Q2 in the second quarter worth $26,000.
About Q2
Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.
Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.
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