Q2 (NYSE:QTWO) had its price target trimmed by JPMorgan Chase & Co. to $62.00 in a research note released on Wednesday morning, The Fly reports. The firm currently has a neutral rating on the technology company’s stock.

Several other brokerages have also recently weighed in on QTWO. Craig Hallum set a $70.00 price objective on shares of Q2 and gave the stock a buy rating in a research note on Thursday, August 9th. Needham & Company LLC boosted their price objective on shares of Q2 from $62.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, August 9th. Royal Bank of Canada reissued a buy rating and issued a $65.00 price objective on shares of Q2 in a research note on Thursday, August 9th. Zacks Investment Research cut shares of Q2 from a buy rating to a hold rating in a research note on Tuesday, August 14th. Finally, Stephens started coverage on shares of Q2 in a research note on Thursday, September 27th. They issued an equal weight rating and a $70.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Q2 presently has an average rating of Buy and a consensus price target of $62.79.

Shares of NYSE:QTWO traded down $0.28 during trading on Wednesday, hitting $52.64. 503,253 shares of the company were exchanged, compared to its average volume of 387,838. The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 1.12. Q2 has a 1-year low of $36.25 and a 1-year high of $67.10.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Q2 had a negative net margin of 12.88% and a negative return on equity of 13.06%. The company had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $60.18 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Q2’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts predict that Q2 will post -0.53 earnings per share for the current fiscal year.

In other Q2 news, insider Adam D. Blue sold 31,048 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $61.80, for a total transaction of $1,918,766.40. Following the sale, the insider now owns 70,848 shares of the company’s stock, valued at $4,378,406.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl James Schaper sold 17,752 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $66.19, for a total transaction of $1,175,004.88. Following the sale, the director now directly owns 31,844 shares in the company, valued at approximately $2,107,754.36. The disclosure for this sale can be found here. Insiders have sold 1,472,477 shares of company stock worth $86,758,418 in the last ninety days. Insiders own 17.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of QTWO. BlackRock Inc. boosted its position in Q2 by 18.6% during the second quarter. BlackRock Inc. now owns 2,462,356 shares of the technology company’s stock valued at $140,477,000 after acquiring an additional 385,863 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Q2 during the 2nd quarter worth about $17,720,000. Artisan Partners Limited Partnership boosted its position in shares of Q2 by 18.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,971,546 shares of the technology company’s stock worth $112,477,000 after purchasing an additional 308,155 shares in the last quarter. Columbus Circle Investors boosted its position in shares of Q2 by 203.5% during the 2nd quarter. Columbus Circle Investors now owns 362,067 shares of the technology company’s stock worth $20,656,000 after purchasing an additional 242,765 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Q2 by 92.9% during the 2nd quarter. Renaissance Technologies LLC now owns 424,809 shares of the technology company’s stock worth $24,235,000 after purchasing an additional 204,609 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

Further Reading: Hedge Funds Explained

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Analyst Recommendations for Q2 (NYSE:QTWO)

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