Q2 (NYSE:QTWO) General Counsel Michael Kerr Sells 636 Shares of Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 636 shares of Q2 stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $60.96, for a total transaction of $38,770.56. Following the completion of the sale, the general counsel owned 80,739 shares of the company’s stock, valued at $4,921,849.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Price Performance

Q2 stock traded up $0.58 during midday trading on Friday, reaching $60.91. 365,600 shares of the company traded hands, compared to its average volume of 564,542. Q2 Holdings, Inc. has a 12 month low of $40.79 and a 12 month high of $85.13. The business has a 50 day moving average of $60.02 and a two-hundred day moving average of $52.09. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 43.51 and a beta of 1.33.

Q2 (NYSE:QTWO) last posted 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 business had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, equities analysts forecast that Q2 Holdings, Inc. will post 1.84 EPS for the current year.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its stake in shares of Q2 by 22.4% in the second quarter. Tidal Investments LLC now owns 251,079 shares of the technology company’s stock worth $12,077,000 after buying an additional 45,927 shares during the period. WINTON GROUP Ltd bought a new position in shares of Q2 during the 2nd quarter valued at approximately $413,000. Integrated Wealth Concepts LLC purchased a new stake in Q2 in the 2nd quarter worth approximately $71,000. Allworth Financial LP increased its holdings in Q2 by 48.1% in the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after acquiring an additional 364 shares in the last quarter. Finally, Nykredit A S bought a new stake in Q2 during the 2nd quarter worth approximately $110,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley upped their price objective on Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Stifel Nicolaus upped their price target on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, UBS Group set a $68.00 price objective on shares of Q2 in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.17.

Q2 Company Profile

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company’s offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.