Q2 (NYSE:QTWO) COO Himagiri Mukkamala Sells 1,343 Shares

Q2 Holdings, Inc. (NYSE:QTWO) COO Himagiri Mukkamala sold 1,343 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $51.35, for a total transaction of $68,963.05. Following the completion of the sale, the chief operating officer owned 92,910 shares of the company’s stock, valued at approximately $4,770,928.50. The trade was a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Q2 Stock Performance

QTWO stock traded up $0.27 during trading on Thursday, reaching $50.79. 87,534 shares of the company were exchanged, compared to its average volume of 1,085,362. The stock’s 50 day moving average price is $59.18 and its 200 day moving average price is $67.33. The company has a market cap of $3.17 billion, a P/E ratio of 64.31 and a beta of 1.40. Q2 Holdings, Inc. has a 52-week low of $46.16 and a 52-week high of $96.68.

Institutional Investors Weigh In On Q2

Several institutional investors have recently bought and sold shares of QTWO. Capital Research Global Investors boosted 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. raised its position in Q2 by 13.5% in the third quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock valued at $572,772,000 after purchasing an additional 941,672 shares during the period. North Reef Capital Management LP lifted its stake in shares of Q2 by 101.1% during 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 purchasing an additional 849,480 shares in the last quarter. UBS Group AG boosted its position 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 period. Finally, Norges Bank purchased a new stake in shares of Q2 in the second quarter worth about $60,466,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QTWO. Cantor Fitzgerald decreased their target price on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Wall Street Zen cut Q2 from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a research report on Thursday, January 22nd. Truist Financial reduced their target price on Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, UBS Group set a $67.00 price target on Q2 in a research note on Thursday, February 12th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.29.

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.