Q2 (NYSE:QTWO) Downgraded by Zacks Research to Hold

Q2 (NYSE:QTWO) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Other analysts also recently issued research reports about the company. Morgan Stanley lifted their target price on Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $82.00 price objective on shares of Q2 in a report on Tuesday, September 22nd. DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. UBS Group set a $68.00 price target on shares of Q2 in a research report on Friday, July 31st. Finally, Stifel Nicolaus upped their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus target price of $76.17.

Q2 Stock Up 0.1%

Q2 stock opened at $55.15 on Monday. Q2 has a 52-week low of $40.79 and a 52-week high of $76.24. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 39.39 and a beta of 1.33. The firm has a 50-day moving average price of $61.02 and a two-hundred day moving average price of $52.76.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. Q2’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. Research analysts expect that Q2 will post 1.8 earnings per share for the current year.

Insider Activity at Q2

In other Q2 news, CFO Jonathan Price sold 77,180 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares in the company, valued at approximately $13,643,564.43. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael S. Kerr sold 636 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were 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 directly owned 80,739 shares of the company’s stock, valued at $4,921,849.44. The trade was a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 87,816 shares of company stock valued at $5,740,968 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new position in Q2 in the first quarter worth approximately $25,000. Optiver Holding B.V. increased its holdings in shares of Q2 by 1,578.9% in the first quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after buying an additional 600 shares in the last quarter. Allworth Financial LP lifted its position in shares of Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock valued at $54,000 after acquiring an additional 364 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Q2 during the 2nd quarter valued at $61,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Q2 during the 2nd quarter worth $71,000.

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.