Q2 Holdings, Inc. (NYSE:QTWO) Stock Rating Reaffirmed by Canaccord Genuity

Q2 Holdings, Inc. (NYSE:QTWO)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity in a report issued on Tuesday, August 1st. They currently have a $43.00 price target on the technology company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 13.46% from the company’s previous close.

QTWO has been the subject of a number of other research reports. BTIG Research upgraded shares of Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, May 5th. ValuEngine upgraded shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. started coverage on shares of Q2 Holdings in a research note on Monday, June 26th. They set a “buy” rating and a $45.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Q2 Holdings in a research note on Friday, May 5th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.13.

Q2 Holdings (QTWO) opened at 37.90 on Tuesday. Q2 Holdings has a 12-month low of $25.23 and a 12-month high of $40.50. The stock’s 50 day moving average price is $37.95 and its 200 day moving average price is $36.90. The company’s market capitalization is $1.56 billion.

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In related news, Director James Offerdahl sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $37.63, for a total value of $37,630.00. Following the completion of the sale, the director now owns 6,043 shares of the company’s stock, valued at $227,398.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R. H. Seale sold 85,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $36.85, for a total transaction of $3,132,250.00. Following the completion of the sale, the director now directly owns 383,903 shares of the company’s stock, valued at approximately $14,146,825.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 381,777 shares of company stock valued at $14,518,509. Company insiders own 24.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Q2 Holdings during the second quarter worth $542,000. Public Employees Retirement System of Ohio bought a new stake in shares of Q2 Holdings during the second quarter worth $1,717,000. Ameritas Investment Partners Inc. raised its stake in shares of Q2 Holdings by 38.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock worth $102,000 after buying an additional 759 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Q2 Holdings by 10.4% in the second quarter. California State Teachers Retirement System now owns 55,564 shares of the technology company’s stock worth $2,053,000 after buying an additional 5,249 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Q2 Holdings by 22.8% in the second quarter. The Manufacturers Life Insurance Company now owns 24,616 shares of the technology company’s stock worth $909,000 after buying an additional 4,571 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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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