KeyCorp Upgrades Q2 (NYSE:QTWO) to Overweight

Q2 (NYSE:QTWO) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $126.00 price objective on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 22.26% from the stock’s current price.

A number of other research firms also recently issued reports on QTWO. Compass Point lifted their price objective on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, November 7th. DA Davidson lifted their price target on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stephens lifted their target price on Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley increased their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

Q2 Stock Up 0.7 %

Shares of Q2 stock opened at $103.06 on Wednesday. The firm has a market cap of $6.22 billion, a PE ratio of -107.35 and a beta of 1.60. The business’s 50 day simple moving average is $96.53 and its 200 day simple moving average is $78.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. Q2 has a 52-week low of $39.66 and a 52-week high of $112.82.

Insider Buying and Selling at Q2

In other news, President Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $907,254.00. Following the completion of the sale, the president now owns 340,903 shares in the company, valued at $36,135,718. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 548 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now owns 18,241 shares in the company, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,836 shares of company stock worth $3,061,035 over the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

Institutional investors have recently modified their holdings of the business. Versor Investments LP acquired a new stake in Q2 in the 3rd quarter worth about $590,000. Perpetual Ltd bought a new position in shares of Q2 during the third quarter worth approximately $80,788,000. BNP Paribas Financial Markets raised its position in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after buying an additional 7,475 shares in the last quarter. State Street Corp boosted its stake in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after buying an additional 5,000 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Q2 during the third quarter worth approximately $1,227,000.

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.