Q2 (NYSE:QTWO) Stock Rating Lowered by Zacks Research

Q2 (NYSE:QTWO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other brokerages have also commented on QTWO. JPMorgan Chase & Co. raised their price objective on Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. DA Davidson reissued a “buy” rating and issued a $82.00 price target on shares of Q2 in a research report on Thursday, July 23rd. Morgan Stanley raised their price target on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, UBS Group set a $68.00 price objective on shares of Q2 in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.17.

Q2 Stock Performance

Q2 stock opened at $55.15 on Monday. The company has a 50 day moving average price of $61.02 and a 200 day moving average price of $52.76. Q2 has a 52 week low of $40.79 and a 52 week high of $76.24. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 39.39 and a beta of 1.33.

Q2 (NYSE:QTWO) last issued 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. The business had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts forecast that Q2 will post 1.8 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Michael Kerr sold 636 shares of Q2 stock in a transaction 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 sale, the general counsel owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kimberly Rutledge sold 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the insider owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 87,816 shares of company stock worth $5,740,968. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q2

A number of institutional investors have recently modified their holdings of the company. Cim Investment Management Inc. boosted its holdings in shares of Q2 by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 9,050 shares of the technology company’s stock worth $435,000 after buying an additional 625 shares during the period. Tidal Investments LLC grew its stake in Q2 by 22.4% in the 2nd quarter. Tidal Investments LLC now owns 251,079 shares of the technology company’s stock valued at $12,077,000 after buying an additional 45,927 shares during the last quarter. WINTON GROUP Ltd bought a new position in Q2 in the 2nd quarter worth $413,000. Integrated Wealth Concepts LLC bought a new position in Q2 in the 2nd quarter worth $71,000. Finally, Allworth Financial LP lifted its position in Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after acquiring an additional 364 shares during the last quarter.

About Q2

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.