Q2 (NYSE:QTWO) Hits New 1-Year High – Here’s Why

Q2 Holdings, Inc. (NYSE:QTWO) shares reached a new 52-week high during trading on Monday . The company traded as high as $83.53 and last traded at $83.41, with a volume of 48108 shares trading hands. The stock had previously closed at $82.31.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Compass Point began coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. BTIG Research upped their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. DA Davidson reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating on shares of Q2 in a research note on Friday. Finally, Stifel Nicolaus increased their target price on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.64.

Q2 Stock Performance

The stock’s 50 day moving average is $76.02 and its 200 day moving average is $65.93. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -60.97 and a beta of 1.59.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $172.89 million during the quarter, compared to analyst estimates of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. Analysts anticipate that Q2 Holdings, Inc. will post -0.01 earnings per share for the current year.

Insider Activity

In other Q2 news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the sale, the executive vice president now owns 215,079 shares in the company, valued at $15,408,259.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Price sold 11,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $71.64, for a total transaction of $788,040.00. Following the sale, the executive vice president now directly owns 215,079 shares of the company’s stock, valued at $15,408,259.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,963 shares of company stock valued at $3,109,699. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC increased its stake in Q2 by 35.9% in the first quarter. Los Angeles Capital Management LLC now owns 18,558 shares of the technology company’s stock valued at $975,000 after acquiring an additional 4,905 shares during the last quarter. Diversified Trust Co increased its stake in shares of Q2 by 6.5% in the 1st quarter. Diversified Trust Co now owns 14,556 shares of the technology company’s stock valued at $765,000 after purchasing an additional 886 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares in the last quarter. Accel Wealth Management bought a new stake in shares of Q2 during the 1st quarter worth $220,000. Finally, BNP Paribas Financial Markets boosted its stake in Q2 by 16.2% in the first quarter. BNP Paribas Financial Markets now owns 53,701 shares of the technology company’s stock valued at $2,823,000 after buying an additional 7,503 shares in the last quarter.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.