Wall Street Zen downgraded shares of Q2 (NYSE:QTWO – Free Report) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus lifted their target price 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. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. UBS Group set a $68.00 price target on shares of Q2 in a research report on Friday, July 31st. Morgan Stanley raised their price objective on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.83.
Q2 Stock Up 0.0%
NYSE:QTWO opened at $61.93 on Friday. The stock has a fifty day simple moving average of $60.76 and a 200 day simple moving average of $53.74. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 44.24 and a beta of 1.34. Q2 has a 1-year low of $40.79 and a 1-year high of $76.24.
Q2 (NYSE:QTWO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The firm had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts predict that Q2 will post 1.80 earnings per share for the current year.
Insider Activity at Q2
In related news, CFO Jonathan Price sold 77,180 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $65.71, for a total value of $5,071,497.80. Following the completion of the sale, the chief financial officer directly owned 207,633 shares of the company’s stock, valued at approximately $13,643,564.43. This represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Rutledge sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider owned 113,913 shares of the company’s stock, valued at $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 87,816 shares of company stock valued at $5,740,968. Company insiders own 0.88% of the company’s stock.
Institutional Trading of Q2
Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in Q2 by 119.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock worth $57,253,000 after purchasing an additional 657,707 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Q2 during the 2nd quarter worth about $19,639,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Q2 by 139.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after purchasing an additional 300,375 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Q2 by 34.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company’s stock worth $47,760,000 after purchasing an additional 259,912 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Q2 by 27,165.5% during the 1st quarter. Fifth Third Bancorp now owns 257,114 shares of the technology company’s stock valued at $12,161,000 after buying an additional 256,171 shares during the last quarter.
About Q2
Q2 Holdings, Inc is a financial technology company that provides cloud-based digital banking and lending solutions. Its software is designed primarily for banks, credit unions and other financial institutions seeking to deliver online and mobile banking services, automate financial workflows and improve engagement with consumers and businesses.
The company’s offerings include the Q2 Digital Banking Platform, which supports digital account access and financial services, as well as tools for lending, relationship pricing, profitability management and embedded finance.
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