Q2 (NYSE:QTWO) General Counsel Michael Kerr Sells 2,655 Shares of Company Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 2,655 shares of the firm’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $74.81, for a total value of $198,620.55. Following the transaction, the general counsel directly owned 78,084 shares of the company’s stock, valued at $5,841,464.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Q2 Trading Up 1.5%

Shares of NYSE:QTWO traded up $1.07 on Friday, hitting $74.03. The company had a trading volume of 257,720 shares, compared to its average volume of 849,014. Q2 Holdings, Inc. has a 52-week low of $40.79 and a 52-week high of $76.37. The business has a 50 day moving average of $63.07 and a 200 day moving average of $55.04. The company has a market cap of $4.57 billion, a PE ratio of 43.80 and a beta of 1.36.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Q2 had a return on equity of 17.85% and a net margin of 12.66%. The business had revenue of $225.77 million for the quarter, compared to analyst estimates of $221.23 million. During the same quarter last year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Q2 Holdings, Inc. will post 1.88 EPS for the current year.

Institutional Investors Weigh In On Q2

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Q2 by 34.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company’s stock valued at $47,760,000 after buying an additional 259,912 shares during the period. The Manufacturers Life Insurance Company lifted its position in Q2 by 7.8% during the first quarter. The Manufacturers Life Insurance Company now owns 698,693 shares of the technology company’s stock valued at $33,048,000 after buying an additional 50,473 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after buying an additional 300,375 shares during the period. Bessemer Group Inc. grew its stake in Q2 by 206.0% during the third quarter. Bessemer Group Inc. now owns 373,276 shares of the technology company’s stock worth $20,693,000 after buying an additional 251,271 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Q2 during the second quarter worth approximately $19,639,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Robert W. Baird set a $83.00 price target on Q2 in a report on Thursday, October 29th. JPMorgan Chase & Co. increased their price target on Q2 from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Stifel Nicolaus raised their price objective on Q2 from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Finally, Royal Bank Of Canada lifted their price objective on Q2 from $73.00 to $75.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.33.

About Q2

Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company’s offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.