Q2 Holdings, Inc. (QTWO) Receives Average Recommendation of “Buy” from Analysts
Shares of Q2 Holdings, Inc. (NYSE:QTWO) have been assigned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.14.
Several analysts have issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $43.00 price target on shares of Q2 Holdings in a research report on Tuesday, August 1st. BTIG Research raised shares of Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Monday, May 15th. ValuEngine raised shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Q2 Holdings in a research report on Friday, May 5th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Q2 Holdings in a research report on Monday, June 26th. They set a “buy” rating and a $45.00 price target on the stock.
In other Q2 Holdings news, insider William M. Furrer sold 13,771 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $39.92, for a total value of $549,738.32. Following the transaction, the insider now directly owns 53,280 shares in the company, valued at $2,126,937.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jennifer Noel Harris sold 10,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $39.38, for a total transaction of $393,800.00. Following the completion of the transaction, the chief financial officer now owns 64,575 shares in the company, valued at $2,542,963.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,194 shares of company stock worth $14,308,152. Corporate insiders own 24.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Columbia Wanger Asset Management LLC increased its position in Q2 Holdings by 241.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,005,436 shares of the technology company’s stock valued at $35,039,000 after buying an additional 710,954 shares during the period. OppenheimerFunds Inc. acquired a new position in Q2 Holdings during the first quarter valued at approximately $21,406,000. MARSHALL WACE ASIA Ltd acquired a new position in Q2 Holdings during the first quarter valued at approximately $8,395,000. Marshall Wace North America L.P. acquired a new position in Q2 Holdings during the first quarter valued at approximately $8,395,000. Finally, JPMorgan Chase & Co. increased its position in Q2 Holdings by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 2,753,225 shares of the technology company’s stock valued at $95,950,000 after buying an additional 220,164 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Q2 Holdings (NYSE QTWO) opened at 37.60 on Tuesday. Q2 Holdings has a 1-year low of $25.23 and a 1-year high of $40.50. The firm’s market capitalization is $1.54 billion. The company has a 50-day moving average of $37.99 and a 200-day moving average of $36.46.
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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.
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