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

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 397 shares of the company’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 transaction, the general counsel directly owned 81,375 shares of the company’s stock, valued at $3,660,247.50. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Trading Up 0.2%

NYSE:QTWO opened at $45.16 on Friday. The firm has a market capitalization of $2.83 billion, a PE ratio of 40.32 and a beta of 1.39. The stock has a 50 day moving average of $48.94 and a 200-day moving average of $59.80. Q2 Holdings, Inc. has a 52 week low of $44.46 and a 52 week 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 company had revenue of $216.51 million for the quarter, compared to the consensus estimate of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. As a group, analysts predict that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently modified their holdings of QTWO. Capital Research Global Investors lifted its position in shares of Q2 by 86.2% during the 4th 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 last quarter. Vanguard Group Inc. lifted its position in shares of Q2 by 13.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock valued at $572,772,000 after acquiring an additional 941,672 shares during the last quarter. North Reef Capital Management LP lifted its position in shares of Q2 by 101.1% during the 3rd quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock valued at $122,339,000 after acquiring an additional 849,480 shares during the last quarter. UBS Group AG lifted its position in shares of 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 acquiring an additional 782,220 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after acquiring an additional 657,707 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on QTWO shares. Royal Bank Of Canada decreased their price objective on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company 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 report on Monday, May 4th. Cantor Fitzgerald decreased their price objective on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. Finally, Truist Financial decreased their price objective on Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.27.

About Q2

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.