Michael Kerr Sells 636 Shares of Q2 (NYSE:QTWO) Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 636 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $60.96, for a total value of $38,770.56. Following the completion of the transaction, the general counsel owned 80,739 shares of the company’s stock, valued at $4,921,849.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Stock Performance

NYSE QTWO opened at $60.91 on Friday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 43.51 and a beta of 1.33. The business has a 50 day simple moving average of $60.02 and a 200 day simple moving average of $52.09. Q2 Holdings, Inc. has a 52-week low of $40.79 and a 52-week high of $85.13.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Q2 Holdings, Inc. will post 1.84 EPS for the current year.

Analyst Upgrades and Downgrades

QTWO has been the subject of a number of research analyst reports. Piper Sandler began coverage on shares of Q2 in a research note on Thursday. They issued an “overweight” rating and a $82.00 target price for the company. Zacks Research raised Q2 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Needham & Company LLC upped their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Stifel Nicolaus increased their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.17.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new position in shares of Q2 in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Q2 during the second quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in Q2 during the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in Q2 in the fourth quarter valued at approximately $27,000. Finally, Optiver Holding B.V. grew its stake in 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 purchasing an additional 600 shares in the last quarter.

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.