Canaccord Genuity Downgrades Q2 Holdings, Inc. (QTWO) to Hold
Q2 Holdings, Inc. (NYSE:QTWO) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
QTWO has been the subject of several other reports. Zacks Investment Research raised shares of Q2 Holdings from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Wednesday, August 9th. BidaskClub downgraded shares of Q2 Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Q2 Holdings in a report on Wednesday, September 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Q2 Holdings presently has an average rating of “Buy” and an average price target of $45.67.
Q2 Holdings (NYSE QTWO) traded up $0.85 during mid-day trading on Thursday, reaching $42.75. 441,176 shares of the company’s stock traded hands, compared to its average volume of 171,407. Q2 Holdings has a 12 month low of $27.10 and a 12 month high of $43.65.
Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $50.05 million. Q2 Holdings had a negative net margin of 15.27% and a negative return on equity of 20.62%. Q2 Holdings’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. sell-side analysts predict that Q2 Holdings will post -0.54 EPS for the current fiscal year.
In related news, CEO Matthew P. Flake sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.67, for a total transaction of $1,190,100.00. Following the completion of the sale, the chief executive officer now owns 222,459 shares in the company, valued at approximately $8,824,948.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. H. Seale sold 45,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $41.95, for a total transaction of $1,887,750.00. Following the sale, the director now owns 383,828 shares of the company’s stock, valued at approximately $16,101,584.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 231,908 shares of company stock valued at $9,390,327. Corporate insiders own 24.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio increased its position in Q2 Holdings by 6.6% in the 2nd quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock valued at $299,000 after acquiring an additional 500 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Q2 Holdings by 1.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 67,332 shares of the technology company’s stock valued at $2,487,000 after acquiring an additional 701 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Q2 Holdings by 38.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after acquiring an additional 759 shares in the last quarter. Sei Investments Co. increased its position in Q2 Holdings by 36.9% in the 2nd quarter. Sei Investments Co. now owns 3,557 shares of the technology company’s stock valued at $131,000 after acquiring an additional 959 shares in the last quarter. Finally, American International Group Inc. increased its position in Q2 Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 15,740 shares of the technology company’s stock valued at $549,000 after acquiring an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.
About Q2 Holdings
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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