Q2 (NYSE:QTWO) General Counsel Sells $79,874.20 in Stock

Key Points

• Q2 Holdings General Counsel Michael Kerr sold 967 shares of the company for a total of $79,874.20, decreasing his ownership by 1.69%.
• Shares of Q2 (QTWO) rose by 0.9% to reach $82.94 on a trading volume of 881,203, exceeding its average volume.
• Analysts have mixed reviews, with a consensus rating of "Moderate Buy" and an average price target of $102.25, reflecting varying confidence in the stock's future performance.

Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) General Counsel Michael S. Kerr sold 967 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the transaction, the general counsel owned 56,228 shares in the company, valued at approximately $4,644,432.80. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Q2 Stock Performance

Shares of NYSE:QTWO traded down $5.76 during trading on Friday, hitting $78.48. The company's stock had a trading volume of 13,172,901 shares, compared to its average volume of 1,059,751. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82. The stock's 50-day moving average price is $81.44 and its two-hundred day moving average price is $82.90. The company has a market capitalization of $4.90 billion, a PE ratio of 1,569.91 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. Stifel Nicolaus boosted their price target on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their price target on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Hedge Funds Weigh In On Q2

Several institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of Q2 by 4.8% during the second quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company's stock valued at $262,390,000 after purchasing an additional 128,387 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Q2 by 1.2% during the second quarter. Wasatch Advisors LP now owns 2,098,037 shares of the technology company's stock valued at $196,355,000 after purchasing an additional 25,493 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Q2 by 1.6% during the first quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock valued at $156,651,000 after purchasing an additional 30,480 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Q2 by 5.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,826,001 shares of the technology company's stock valued at $170,895,000 after purchasing an additional 101,866 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Q2 by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,470,279 shares of the technology company's stock valued at $137,620,000 after purchasing an additional 26,858 shares during the last quarter.

Q2 Company Profile

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.