Q2 (NYSE:QTWO) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Q2 (NYSE:QTWO) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their target price on Q2 from $100.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial reduced their price objective on Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Needham & Company LLC decreased their price objective on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. UBS Group set a $67.00 price objective on Q2 in a research report on Thursday, February 12th. Finally, Stephens set a $90.00 target price on shares of Q2 in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.29.

Q2 Trading Down 1.8%

Shares of NYSE QTWO opened at $50.78 on Friday. The company’s 50-day moving average price is $65.44 and its 200 day moving average price is $69.64. Q2 has a 52 week low of $50.48 and a 52 week high of $96.68. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 64.28 and a beta of 1.36.

Insider Transactions at Q2

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction on Friday, December 12th. The shares were sold at an average price of $75.46, for a total value of $386,581.58. Following the transaction, the executive owned 166,512 shares in the company, valued at $12,564,995.52. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $630,627.12. Following the sale, the insider owned 269,128 shares of the company’s stock, valued at approximately $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,883 shares of company stock worth $1,547,778 in the last three months. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of large investors have recently modified their holdings of QTWO. Principal Financial Group Inc. boosted its position in Q2 by 502.5% during the 3rd quarter. Principal Financial Group Inc. now owns 301,917 shares of the technology company’s stock worth $21,856,000 after purchasing an additional 251,807 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Q2 in the third quarter worth about $1,559,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Q2 by 15.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,328 shares of the technology company’s stock valued at $14,818,000 after buying an additional 20,643 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Q2 by 5.5% during the 3rd quarter. Federated Hermes Inc. now owns 788,374 shares of the technology company’s stock valued at $57,070,000 after buying an additional 41,229 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Q2 by 53.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,658 shares of the technology company’s stock worth $3,378,000 after acquiring an additional 16,263 shares in the last quarter.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.