Q2 (NYSE:QTWO) General Counsel Michael Kerr Sells 636 Shares of Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 636 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $60.96, for a total value of $38,770.56. Following the completion of the transaction, the general counsel directly owned 80,739 shares of the company’s stock, valued at $4,921,849.44. This represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Stock Up 1.0%

Shares of NYSE QTWO opened at $60.91 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $85.13. The business has a 50 day moving average price of $60.02 and a two-hundred day moving average price of $52.09. The firm has a market cap of $3.80 billion, a PE ratio of 43.51 and a beta of 1.33.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. On average, analysts anticipate that Q2 Holdings, Inc. will post 1.84 earnings per share for the current year.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after purchasing an additional 220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Q2 by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after buying an additional 1,525 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Q2 by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after buying an additional 95,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Q2 by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock valued at $14,907,000 after buying an additional 6,909 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Q2 by 592.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after buying an additional 539 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QTWO. JPMorgan Chase & Co. increased their price objective on shares of Q2 from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Needham & Company LLC boosted their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. UBS Group set a $68.00 price target on shares of Q2 in a research report on Friday, July 31st. Finally, Piper Sandler initiated coverage on shares of Q2 in a research report on Thursday. They set an “overweight” rating and a $82.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $76.17.

Q2 Company Profile

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company’s offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.