Brokerages Set Q2 Holdings, Inc. (NYSE:QTWO) PT at $76.17

Shares of Q2 Holdings, Inc. (NYSE:QTWO) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $76.1667.

Several research analysts have commented on QTWO shares. DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of Q2 in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Q2 from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. UBS Group set a $68.00 price target on shares of Q2 in a report on Friday, July 31st. Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a research note on Monday, August 31st.

Insider Transactions at Q2

In other news, General Counsel Michael Kerr sold 636 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $60.96, for a total transaction of $38,770.56. Following the completion of the transaction, the general counsel directly owned 80,739 shares in the company, valued at approximately $4,921,849.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kimberly Rutledge sold 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the transaction, the insider owned 113,913 shares of the company’s stock, valued at $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 87,816 shares of company stock worth $5,740,968. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Q2

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Q2 by 22.4% during the second quarter. Tidal Investments LLC now owns 251,079 shares of the technology company’s stock worth $12,077,000 after purchasing an additional 45,927 shares during the last quarter. WINTON GROUP Ltd bought a new position in Q2 in the 2nd quarter valued at approximately $413,000. Integrated Wealth Concepts LLC bought a new position in Q2 in the 2nd quarter valued at approximately $71,000. Allworth Financial LP boosted its position in Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after buying an additional 364 shares during the period. Finally, Nykredit A S acquired a new stake in Q2 during the 2nd quarter worth approximately $110,000.

Q2 Stock Performance

Shares of QTWO opened at $59.95 on Friday. Q2 has a 52-week low of $40.79 and a 52-week high of $85.13. The business’s fifty day moving average is $60.31 and its 200-day moving average is $52.32. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 42.82 and a beta of 1.33.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $219.77 million during the quarter, compared to analysts’ expectations of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, research analysts forecast that Q2 will post 1.84 EPS for the current fiscal year.

Q2 Company Profile

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company’s offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.