Q2 (NYSE:QTWO) General Counsel Michael Kerr Sells 641 Shares

Key Points

• Michael Kerr, the General Counsel of Q2 Holdings, Inc., sold 641 shares of the firm's stock on September 11th for a total of approximately $52,978.65.
• Following this sale, Kerr now owns 57,195 shares, reflecting a 1.11% decrease in his position within the company.
• Q2 Holdings has received multiple ratings upgrades from analysts, with an average price target now at $102.25 and a consensus rating of "Moderate Buy."

Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) General Counsel Michael Kerr sold 641 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $82.65, for a total value of $52,978.65. Following the completion of the sale, the general counsel directly owned 57,195 shares in the company, valued at approximately $4,727,166.75. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Q2 Price Performance

Shares of NYSE QTWO traded up $0.76 during mid-day trading on Monday, hitting $82.94. 881,203 shares of the stock traded hands, compared to its average volume of 739,416. Q2 Holdings, Inc. has a twelve month low of $63.61 and a twelve month high of $112.82. The company has a market cap of $5.18 billion, a PE ratio of 1,659.17 and a beta of 1.49. The firm has a 50 day simple moving average of $82.51 and a two-hundred day simple moving average of $82.95.

Wall Street Analysts Forecast Growth

A number of analysts have commented on QTWO shares. Royal Bank Of Canada boosted their price objective on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on Q2 in a report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price objective for the company. Needham & Company LLC boosted their target price on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Zacks Research upgraded Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald began coverage on Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Q2 presently has a consensus rating of "Moderate Buy" and an average price target of $102.25.

Institutional Trading of Q2

A number of large investors have recently made changes to their positions in QTWO. Osaic Holdings Inc. grew its holdings in Q2 by 1,025.6% during the 2nd quarter. Osaic Holdings Inc. now owns 7,474 shares of the technology company's stock valued at $699,000 after purchasing an additional 6,810 shares during the last quarter. Cim Investment Management Inc. grew its holdings in Q2 by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 13,713 shares of the technology company's stock valued at $1,333,000 after purchasing an additional 6,882 shares during the last quarter. Caxton Associates LLP bought a new position in Q2 during the 2nd quarter valued at about $201,000. Castleark Management LLC bought a new position in Q2 during the 2nd quarter valued at about $5,341,000. Finally, Headlands Technologies LLC bought a new position in Q2 during the 2nd quarter valued at about $26,000.

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.

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