Q2 Holdings Inc (NYSE:QTWO) EVP Odus Edward Wittenburg, Jr. sold 7,968 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $68.82, for a total transaction of $548,357.76. Following the completion of the transaction, the executive vice president now directly owns 101,173 shares of the company’s stock, valued at approximately $6,962,725.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
QTWO traded up $0.25 during midday trading on Friday, hitting $68.25. The company’s stock had a trading volume of 539,900 shares, compared to its average volume of 382,827. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.96 and a quick ratio of 2.96. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -184.46 and a beta of 1.54. Q2 Holdings Inc has a 52-week low of $43.41 and a 52-week high of $72.00.
Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. The company had revenue of $67.20 million during the quarter, compared to analysts’ expectations of $66.77 million. Q2 had a negative return on equity of 12.18% and a negative net margin of 14.68%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. Equities research analysts anticipate that Q2 Holdings Inc will post -0.65 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Q2 by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 379,916 shares of the technology company’s stock valued at $18,824,000 after purchasing an additional 30,709 shares in the last quarter. Norges Bank acquired a new position in shares of Q2 in the 4th quarter valued at approximately $25,818,000. FMR LLC raised its position in shares of Q2 by 11,963.5% in the 4th quarter. FMR LLC now owns 30,038 shares of the technology company’s stock valued at $1,489,000 after purchasing an additional 29,789 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Q2 in the 4th quarter valued at approximately $266,000. Finally, Macquarie Group Ltd. raised its position in shares of Q2 by 22.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,243,394 shares of the technology company’s stock valued at $61,610,000 after purchasing an additional 223,815 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.
Several research analysts recently weighed in on the stock. KeyCorp boosted their target price on shares of Q2 from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price (up previously from $70.00) on shares of Q2 in a research note on Friday, March 1st. SunTrust Banks raised shares of Q2 from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $84.00 in a research note on Friday, March 1st. Royal Bank of Canada boosted their target price on shares of Q2 to $76.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Finally, DA Davidson downgraded shares of Q2 from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $48.00 to $52.00 in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $67.33.
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: Quiet Period
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