Wall Street Zen cut shares of Q2 (NYSE:QTWO – Free Report) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.
QTWO has been the topic of several other reports. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of Q2 in a research note on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Stifel Nicolaus raised their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC raised their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.64.
Read Our Latest Report on QTWO
Q2 Stock Up 0.0%
Q2 (NYSE:QTWO – Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities research analysts anticipate that Q2 will post 1.84 earnings per share for the current year.
Insider Activity at Q2
In related news, CFO Jonathan Price sold 77,180 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the completion of the transaction, the chief financial officer owned 207,633 shares in the company, valued at $13,643,564.43. The trade was a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kimberly Anne Rutledge sold 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, the insider owned 113,913 shares of the company’s stock, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.88% of the company’s stock.
Hedge Funds Weigh In On Q2
Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its position in shares of Q2 by 4,299.6% during the second quarter. California State Teachers Retirement System now owns 3,199,564 shares of the technology company’s stock worth $153,899,000 after acquiring an additional 3,126,840 shares during the last quarter. Capital Research Global Investors lifted its position in Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after purchasing an additional 1,454,076 shares during the last quarter. UBS Group AG boosted its stake in Q2 by 343.5% during the 3rd quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock valued at $73,110,000 after purchasing an additional 782,220 shares during the period. Assenagon Asset Management S.A. boosted its stake in Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after purchasing an additional 657,707 shares during the period. Finally, Norges Bank bought a new position in Q2 in the 4th quarter worth about $44,960,000.
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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