Michael Kerr Sells 397 Shares of Q2 (NYSE:QTWO) Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 397 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $44.98, for a total value of $17,857.06. Following the completion of the sale, the general counsel directly owned 81,375 shares of the company’s stock, valued at approximately $3,660,247.50. The trade was a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Price Performance

QTWO traded up $0.36 during midday trading on Thursday, hitting $45.06. 712,189 shares of the company’s stock traded hands, compared to its average volume of 973,830. The company has a market cap of $2.82 billion, a PE ratio of 40.23 and a beta of 1.39. The stock’s fifty day simple moving average is $49.15 and its 200-day simple moving average is $60.02. Q2 Holdings, Inc. has a one year low of $44.46 and a one year high of $96.68.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). The business had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, research analysts expect that Q2 Holdings, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

QTWO has been the topic of several recent research reports. Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Cantor Fitzgerald reduced their price target on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Truist Financial lowered their price objective on Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research note on Monday, May 4th. Finally, Royal Bank Of Canada reduced their target price on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.27.

Institutional Trading of Q2

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its holdings in Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Q2 by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after buying an additional 1,525 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Q2 by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after buying an additional 95,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Q2 by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock valued at $14,907,000 after acquiring an additional 6,909 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after acquiring an additional 539 shares during the last quarter.

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.