Q2 Holdings, Inc. (NYSE:QTWO) Short Interest Update

Q2 Holdings, Inc. (NYSE:QTWO) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 1,927,934 shares, a drop of 36.0% from the February 12th total of 3,010,569 shares. Based on an average daily volume of 1,343,993 shares, the short-interest ratio is presently 1.4 days. Currently, 3.2% of the company’s stock are short sold. Currently, 3.2% of the company’s stock are short sold. Based on an average daily volume of 1,343,993 shares, the short-interest ratio is presently 1.4 days.

Q2 Price Performance

Shares of NYSE:QTWO traded down $0.42 during mid-day trading on Friday, reaching $48.33. 755,671 shares of the company traded hands, compared to its average volume of 1,303,287. The company’s 50 day moving average price is $58.29 and its 200-day moving average price is $67.00. The firm has a market cap of $3.02 billion, a PE ratio of 61.17 and a beta of 1.40. Q2 has a 52 week low of $46.16 and a 52 week high of $96.68.

Analysts Set New Price Targets

QTWO has been the topic of several research reports. Needham & Company LLC dropped their target price on shares of Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. JPMorgan Chase & Co. reduced their price objective on Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Cantor Fitzgerald dropped their target price on Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Truist Financial cut their target price on shares of Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.29.

Insider Buying and Selling at Q2

In related news, insider John E. Breeden sold 6,076 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $51.35, for a total transaction of $312,002.60. Following the sale, the insider directly owned 84,236 shares of the company’s stock, valued at $4,325,518.60. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael S. Kerr sold 2,821 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $144,858.35. Following the completion of the transaction, the general counsel directly owned 47,227 shares of the company’s stock, valued at approximately $2,425,106.45. This trade represents a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 411,087 shares of company stock worth $20,702,472. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QTWO. Capital Research Global Investors raised its holdings in Q2 by 86.2% during the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after acquiring an additional 1,454,076 shares during the period. Vanguard Group Inc. boosted its stake in shares of Q2 by 13.5% in the third quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock worth $572,772,000 after acquiring an additional 941,672 shares during the period. North Reef Capital Management LP grew its position in shares of Q2 by 101.1% during the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after purchasing an additional 849,480 shares in the last quarter. UBS Group AG raised 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. Finally, Norges Bank purchased a new position in Q2 in the 2nd quarter worth approximately $60,466,000.

Q2 Company Profile

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.