Wall Street Zen Downgrades Q2 (NYSE:QTWO) to Buy

Q2 (NYSE:QTWO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

QTWO has been the subject of a number of other research reports. Stifel Nicolaus set a $75.00 price objective on Q2 in a research report on Thursday, February 12th. Stephens set a $90.00 price target on Q2 in a research note on Friday, January 16th. DA Davidson upgraded Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada cut their price objective on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.29.

Q2 Stock Performance

QTWO stock opened at $52.86 on Friday. The company has a 50 day moving average price of $60.49 and a two-hundred day moving average price of $67.91. The stock has a market capitalization of $3.30 billion, a P/E ratio of 66.91 and a beta of 1.40. Q2 has a one year low of $46.16 and a one year high of $96.68.

Insider Activity at Q2

In related news, CFO Jonathan Price sold 32,156 shares of Q2 stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total transaction of $1,599,761.00. Following the transaction, the chief financial officer owned 197,135 shares in the company, valued at approximately $9,807,466.25. The trade was a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kirk L. Coleman sold 31,104 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total transaction of $1,547,424.00. Following the sale, the insider directly owned 262,657 shares of the company’s stock, valued at approximately $13,067,185.75. This trade represents a 10.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 294,381 shares of company stock valued at $15,152,614 over the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Q2 by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after purchasing an additional 82,827 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Q2 by 86.2% in the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after buying an additional 1,454,076 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Q2 by 4.8% during the 2nd quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock valued at $262,390,000 after buying an additional 128,387 shares during the period. William Blair Investment Management LLC lifted its position in Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after acquiring an additional 553,713 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Q2 by 2.9% in the 3rd quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock worth $156,221,000 after acquiring an additional 60,016 shares during the period.

Q2 Company Profile

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.