Q2 (NYSE:QTWO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Q2 (NYSE:QTWO) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued research reports about the company. UBS Group set a $67.00 target price on Q2 in a report on Thursday, February 12th. Royal Bank Of Canada dropped their price objective on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research note on Thursday, February 12th. Stephens set a $90.00 price objective on shares of Q2 in a research report on Friday, January 16th. DA Davidson raised shares of Q2 from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, February 3rd. Finally, Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Trading Down 6.9%

Shares of NYSE:QTWO opened at $47.29 on Friday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 59.86 and a beta of 1.36. Q2 has a 12 month low of $47.15 and a 12 month high of $96.68. The company has a 50-day moving average price of $64.93 and a 200 day moving average price of $69.41.

Insider Activity at Q2

In related news, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $630,627.12. Following the completion of the transaction, the insider owned 269,128 shares of the company’s stock, valued at $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Himagiri K. Mukkamala sold 3,024 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $222,808.32. Following the completion of the sale, the chief operating officer owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. This trade represents a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,883 shares of company stock worth $1,547,778 over the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QTWO. Capital Research Global Investors grew its position in Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after purchasing an additional 1,454,076 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Q2 by 13.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock valued at $572,772,000 after buying an additional 941,672 shares during the period. North Reef Capital Management LP boosted its stake in shares of Q2 by 101.1% in the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after buying an additional 849,480 shares during the last quarter. UBS Group AG boosted its stake in shares of Q2 by 343.5% in the third quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock worth $73,110,000 after buying an additional 782,220 shares during the last quarter. Finally, Norges Bank acquired a new stake in Q2 during the second quarter worth about $60,466,000.

Q2 Company Profile

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.