BTIG Research lowered shares of Q2 Holdings Inc. (NYSE:QTWO) from a buy rating to a neutral rating in a report published on Monday.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity reaffirmed a buy rating on shares of Q2 Holdings in a report on Thursday, November 3rd. Zacks Investment Research raised shares of Q2 Holdings from a sell rating to a hold rating in a report on Wednesday, October 5th. Needham & Company LLC reiterated a buy rating and issued a $34.00 target price on shares of Q2 Holdings in a research report on Monday, August 29th. RBC Capital Markets reiterated an outperform rating and issued a $31.00 target price (up from $27.00) on shares of Q2 Holdings in a research report on Friday, August 5th. Finally, Royal Bank Of Canada increased their target price on shares of Q2 Holdings from $27.00 to $31.00 and gave the company an outperform rating in a research report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Q2 Holdings currently has a consensus rating of Buy and a consensus price target of $30.78.

Q2 Holdings (NYSE:QTWO) opened at 31.50 on Monday. The stock’s market capitalization is $1.26 billion. The company’s 50 day moving average is $28.70 and its 200-day moving average is $27.49. Q2 Holdings has a 1-year low of $16.43 and a 1-year high of $32.28.

Q2 Holdings (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.15. Q2 Holdings had a negative return on equity of 24.27% and a negative net margin of 26.91%. The firm had revenue of $38.30 million for the quarter, compared to analysts’ expectations of $38.09 million. Q2 Holdings’s revenue was up 36.8% compared to the same quarter last year. Analysts forecast that Q2 Holdings will post ($0.34) earnings per share for the current fiscal year.

In other Q2 Holdings news, SVP Barry G. Benton sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $29.00, for a total transaction of $43,500.00. Following the sale, the senior vice president now owns 16,723 shares of the company’s stock, valued at $484,967. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adams Street Partners Llc sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $28.29, for a total transaction of $48,093,000.00. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Q2 Holdings by 85.0% in the third quarter. Wells Fargo & Company MN now owns 3,258,617 shares of the company’s stock worth $93,392,000 after buying an additional 1,497,182 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Q2 Holdings by 4.8% in the third quarter. TimesSquare Capital Management LLC now owns 2,170,256 shares of the company’s stock worth $62,200,000 after buying an additional 99,910 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Q2 Holdings by 5.5% in the third quarter. JPMorgan Chase & Co. now owns 1,969,449 shares of the company’s stock worth $56,445,000 after buying an additional 102,163 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Q2 Holdings by 13.3% in the second quarter. Artisan Partners Limited Partnership now owns 1,756,070 shares of the company’s stock worth $49,205,000 after buying an additional 206,641 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Q2 Holdings by 91.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,537,661 shares of the company’s stock worth $44,069,000 after buying an additional 732,413 shares during the last quarter. 94.68% of the stock is currently owned by institutional investors.

About Q2 Holdings

Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.

5 Day Chart for NYSE:QTWO

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