Zacks Investment Research cut shares of Q2 Holdings, Inc. (NYSE:QTWO) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “Q2 Holdings, Inc. provides secure, cloud-based virtual banking solutions. The Company’s solutions include Q2online, Q2themes, Q2mobility App, Q2mobile Remote Deposit Capture, Q2text, Q2voice, Q2clarity and Q2 Risk & Fraud Analytics. It enables regional and community financial institutions, or RCFIs, to deliver a suite of integrated virtual banking services. Q2 Holdings, Inc. is headquartered in Austin, Texas. “

A number of other brokerages have also issued reports on QTWO. BidaskClub upgraded Q2 Holdings from a hold rating to a buy rating in a research note on Tuesday. KeyCorp restated a hold rating on shares of Q2 Holdings in a research report on Wednesday, September 13th. Canaccord Genuity restated a buy rating and set a $43.00 target price on shares of Q2 Holdings in a research report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. assumed coverage on Q2 Holdings in a research report on Monday, June 26th. They set a buy rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $42.13.

Shares of Q2 Holdings (NYSE:QTWO) traded up 0.36% on Wednesday, reaching $41.25. The company’s stock had a trading volume of 136,622 shares. The firm has a 50-day moving average price of $40.27 and a 200 day moving average price of $38.37. The firm’s market capitalization is $1.70 billion. Q2 Holdings has a one year low of $25.23 and a one year high of $42.90.

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In other news, Director R. H. Seale sold 22,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $41.16, for a total value of $905,520.00. Following the sale, the director now directly owns 383,828 shares in the company, valued at $15,798,360.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. H. Seale sold 85,000 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $36.85, for a total transaction of $3,132,250.00. Following the completion of the sale, the director now owns 383,903 shares in the company, valued at $14,146,825.55. The disclosure for this sale can be found here. Insiders have sold 344,908 shares of company stock valued at $13,529,127 over the last three months. 24.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in QTWO. Columbia Wanger Asset Management LLC boosted its position in Q2 Holdings by 241.4% during the first quarter. Columbia Wanger Asset Management LLC now owns 1,005,436 shares of the technology company’s stock worth $35,039,000 after acquiring an additional 710,954 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Q2 Holdings during the first quarter worth approximately $21,406,000. Franklin Resources Inc. raised its stake in Q2 Holdings by 55.6% during the second quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock worth $55,523,000 after purchasing an additional 536,772 shares during the period. Penn Capital Management Co. Inc. raised its stake in Q2 Holdings by 3,059.9% during the second quarter. Penn Capital Management Co. Inc. now owns 303,822 shares of the technology company’s stock worth $11,243,000 after purchasing an additional 294,207 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in Q2 Holdings during the first quarter worth approximately $8,395,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Q2 Holdings Company Profile

Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.

Analyst Recommendations for Q2 Holdings (NYSE:QTWO)

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