Q2 (NYSE:QTWO) General Counsel Sells $38,770.56 in Stock

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

Q2 Stock Up 0.0%

Shares of NYSE:QTWO opened at $60.91 on Monday. The business’s 50 day moving average is $60.02 and its 200 day moving average is $52.13. Q2 Holdings, Inc. has a 12-month low of $40.79 and a 12-month high of $85.13. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 43.51 and a beta of 1.33.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 1.84 earnings per share for the current year.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC raised its holdings in Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after acquiring an additional 553,713 shares during the period. Entropy Technologies LP grew its position in shares of Q2 by 864.9% in the first quarter. Entropy Technologies LP now owns 26,902 shares of the technology company’s stock valued at $1,272,000 after purchasing an additional 24,114 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Q2 in the fourth quarter valued at $3,080,000. Smith Group Asset Management LLC purchased a new position in shares of Q2 in the first quarter valued at $1,422,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Q2 by 207.2% during the 4th quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock valued at $9,877,000 after purchasing an additional 92,318 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on QTWO shares. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Q2 from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Stifel Nicolaus raised their price objective on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Piper Sandler started coverage on shares of Q2 in a research report on Thursday. They issued an “overweight” rating and a $82.00 price objective on the stock. Finally, Zacks Research upgraded shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and an average price target of $76.17.

About Q2

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.