Q2 (NYSE:QTWO) Stock Rating Upgraded by Robert W. Baird

Q2 (NYSE:QTWO) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Tuesday,Benzinga reports. The firm currently has a $70.00 target price on the technology company’s stock, down from their previous target price of $82.00. Robert W. Baird’s price target points to a potential upside of 43.68% from the stock’s current price.

QTWO has been the topic of a number of other research reports. Needham & Company LLC dropped their target price on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. UBS Group set a $67.00 price target on Q2 in a research note on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lowered their price target on Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Zacks Research cut Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Q2 Price Performance

Shares of QTWO opened at $48.72 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 61.67 and a beta of 1.42. Q2 has a fifty-two week low of $44.65 and a fifty-two week high of $96.68. The business’s 50-day moving average is $51.73 and its 200-day moving average is $63.11.

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 2,821 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $51.35, for a total transaction of $144,858.35. Following the completion of the sale, the general counsel owned 47,227 shares of the company’s stock, valued at $2,425,106.45. This represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew P. Flake sold 20,613 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $1,058,477.55. Following the sale, the chief executive officer directly owned 483,202 shares of the company’s stock, valued at $24,812,422.70. The trade was a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 411,087 shares of company stock worth $20,702,472 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Q2 by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after purchasing an additional 82,827 shares during the period. Capital Research Global Investors boosted its position 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 worth $226,658,000 after purchasing an additional 1,454,076 shares during the period. William Blair Investment Management LLC boosted its position in Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after purchasing an additional 553,713 shares during the period. Wasatch Advisors LP boosted its position in Q2 by 2.9% during the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock worth $156,221,000 after purchasing an additional 60,016 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Q2 by 11.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,039,416 shares of the technology company’s stock worth $147,633,000 after purchasing an additional 213,415 shares during the period.

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.