Q2 (NYSE:QTWO)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a note issued to investors on Friday, AnalystRatings.com reports. They presently have a $116.00 price objective on the technology company’s stock. Canaccord Genuity’s price objective points to a potential upside of 30.16% from the stock’s current price.
Several other brokerages also recently commented on QTWO. ValuEngine downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Stephens upgraded Q2 from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Q2 in a research note on Tuesday, December 17th. Roth Capital upgraded Q2 from a “neutral” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $90.00 price target on shares of Q2 in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Q2 has a consensus rating of “Buy” and a consensus price target of $93.51.
Shares of QTWO opened at $89.12 on Friday. The business’s fifty day simple moving average is $86.45 and its two-hundred day simple moving average is $81.75. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 1.18. Q2 has a 12 month low of $64.10 and a 12 month high of $93.90. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -57.87 and a beta of 1.19.
In related news, CFO Jennifer Noel Harris sold 7,275 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $87.01, for a total value of $632,997.75. Following the transaction, the chief financial officer now directly owns 107,590 shares of the company’s stock, valued at approximately $9,361,405.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO William M. Furrer sold 3,450 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $87.00, for a total value of $300,150.00. Following the completion of the transaction, the chief marketing officer now directly owns 81,753 shares in the company, valued at $7,112,511. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,475 shares of company stock worth $9,646,029. Company insiders own 12.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Q2 by 0.6% in the second quarter. BlackRock Inc. now owns 2,953,984 shares of the technology company’s stock worth $225,566,000 after purchasing an additional 17,568 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Q2 by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 10,246 shares of the technology company’s stock worth $808,000 after acquiring an additional 1,021 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Q2 by 11.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,515 shares of the technology company’s stock worth $198,000 after acquiring an additional 265 shares in the last quarter. Strs Ohio grew its position in Q2 by 29.7% in the third quarter. Strs Ohio now owns 4,800 shares of the technology company’s stock worth $378,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Q2 in the third quarter worth about $228,000.
Q2 Company Profile
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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