Q2 Holdings, Inc. (NYSE:QTWO) Insider Sells $126,945.00 in Stock

Q2 Holdings, Inc. (NYSE:QTWO) insider Kimberly Anne Rutledge sold 1,953 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total value of $126,945.00. Following the transaction, the insider now directly owns 115,436 shares in the company, valued at approximately $7,503,340. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Q2 Stock Performance

Q2 stock traded up $4.85 during mid-day trading on Thursday, hitting $65.53. 1,203,236 shares of the company’s stock traded hands, compared to its average volume of 603,822. The firm has a 50 day moving average price of $60.74 and a 200 day moving average price of $51.66. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The company has a market cap of $3.94 billion, a PE ratio of -48.43 and a beta of 1.55. Q2 Holdings, Inc. has a one year low of $28.91 and a one year high of $65.85.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The company had revenue of $165.51 million for the quarter, compared to analysts’ expectations of $163.58 million. On average, equities analysts forecast that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on QTWO. BTIG Research increased their target price on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 price target (up previously from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Piper Sandler raised their price target on Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Truist Financial reissued a “buy” rating and issued a $68.00 price target on shares of Q2 in a report on Monday, July 1st. Finally, The Goldman Sachs Group raised their price target on Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and an average price target of $55.53.

Hedge Funds Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. Hood River Capital Management LLC acquired a new position in shares of Q2 during the 1st quarter valued at $62,765,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after acquiring an additional 683,957 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Norges Bank acquired a new position in shares of Q2 in the 4th quarter worth $20,470,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Q2 by 855.4% in the 4th quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares during the last quarter.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.