Q2 Holdings, Inc. (NYSE:QTWO) Short Interest Update

Q2 Holdings, Inc. (NYSE:QTWO) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,927,934 shares, a drop of 36.0% from the February 12th total of 3,010,569 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily volume of 1,343,993 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 1,343,993 shares, the short-interest ratio is currently 1.4 days. Approximately 3.2% of the company’s shares are short sold.

Analyst Ratings Changes

QTWO has been the subject of a number of research analyst reports. Stephens set a $90.00 target price on Q2 in a report on Friday, January 16th. Needham & Company LLC cut their price target on shares of Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Stifel Nicolaus set a $75.00 price target on shares of Q2 in a research note on Thursday, February 12th. Truist Financial reduced their price target on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

Q2 Trading Down 0.9%

NYSE:QTWO traded down $0.42 during midday trading on Friday, reaching $48.33. The company had a trading volume of 755,671 shares, compared to its average volume of 1,232,118. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 61.17 and a beta of 1.40. The stock’s fifty day simple moving average is $58.29 and its 200-day simple moving average is $66.85. Q2 has a 12-month low of $46.16 and a 12-month high of $96.68.

Insider Transactions at Q2

In other news, insider Kimberly Anne Rutledge sold 3,187 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $50.37, for a total transaction of $160,529.19. Following the completion of the transaction, the insider directly owned 80,551 shares in the company, valued at $4,057,353.87. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Himagiri K. Mukkamala sold 1,343 shares of Q2 stock in a transaction on Monday, March 9th. The shares were sold at an average price of $51.35, for a total value of $68,963.05. Following the completion of the sale, the chief operating officer directly owned 92,910 shares of the company’s stock, valued at $4,770,928.50. The trade was a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 411,087 shares of company stock worth $20,702,472 in the last three months. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Q2 during the second quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 in the third quarter valued at approximately $26,000. Cullen Frost Bankers Inc. purchased a new position in Q2 in the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Q2 in the fourth quarter worth approximately $27,000. Finally, Salomon & Ludwin LLC acquired a new position in Q2 during the 3rd quarter worth approximately $30,000.

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.