Q2 (NYSE:QTWO) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Q2 (NYSE:QTWO) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

QTWO has been the subject of several other reports. Wall Street Zen downgraded shares of Q2 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Stephens set a $90.00 target price on Q2 in a research report on Friday, January 16th. JPMorgan Chase & Co. cut their price target on Q2 from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. UBS Group set a $67.00 price objective on Q2 in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $75.00 target price on Q2 in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

Q2 Stock Performance

Q2 stock opened at $49.38 on Monday. The stock’s 50 day moving average price is $57.00 and its two-hundred day moving average price is $66.31. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 62.51 and a beta of 1.40. Q2 has a 52-week low of $46.16 and a 52-week high of $96.68.

Insider Activity at Q2

In related news, insider Kirk L. Coleman sold 31,104 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total transaction of $1,547,424.00. Following the completion of the sale, the insider owned 262,657 shares in the company, valued at approximately $13,067,185.75. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Breeden sold 68,707 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.73, for a total value of $3,554,213.11. Following the completion of the sale, the insider directly owned 90,312 shares of the company’s stock, valued at $4,671,839.76. The trade was a 43.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 411,087 shares of company stock valued at $20,702,472 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Q2 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after buying an additional 82,827 shares in the last quarter. Capital Research Global Investors increased its position in shares of Q2 by 86.2% during the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after acquiring an additional 1,454,076 shares during the last quarter. Invesco Ltd. lifted its holdings in Q2 by 4.8% during the second quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock worth $262,390,000 after acquiring an additional 128,387 shares during the period. William Blair Investment Management LLC lifted its holdings in Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after acquiring an additional 553,713 shares during the period. Finally, Wasatch Advisors LP boosted its position in Q2 by 2.9% in the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock worth $156,221,000 after purchasing an additional 60,016 shares during the last quarter.

About Q2

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.