Q2 (NYSE:QTWO) Sets New 12-Month Low - Should You Sell?

Key Points

• Q2 Holdings, Inc. (NYSE:QTWO) reached a new 12-month low, trading as low as $60.28 before closing at $62.24.
• Analysts have mixed views on Q2, with nine rating it as a buy and ten as a hold, resulting in an average price target of $101.94.
• Insider trading is notable, with executives like General Counsel Michael S. Kerr and Director James Offerdahl recently selling shares, reflecting a 1.69% and 4.23% decrease in their positions, respectively.

Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $60.28 and last traded at $62.24, with a volume of 1127662 shares trading hands. The stock had previously closed at $61.58.

Wall Street Analyst Weigh In

QTWO has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Zacks Research lowered shares of Q2 from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Royal Bank Of Canada upped their target price on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Wall Street Zen lowered Q2 from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. lowered their target price on Q2 from $115.00 to $110.00 and set an "overweight" rating for the company in a research note on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Q2 currently has an average rating of "Hold" and an average price target of $101.94.

Q2 Price Performance

The stock has a 50-day moving average of $75.12 and a 200 day moving average of $81.84. The company has a market cap of $3.89 billion, a P/E ratio of 1,245.09 and a beta of 1.47.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 967 shares of the firm'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 sale, the general counsel directly owned 56,228 shares in the company, valued at $4,644,432.80. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 786 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,499 shares of company stock worth $650,658. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in Q2 by 377.9% during the 1st quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $977,000 after buying an additional 9,658 shares in the last quarter. Elevation Point Wealth Partners LLC raised its stake in Q2 by 19.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 3,589 shares of the technology company's stock valued at $287,000 after purchasing an additional 595 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Q2 by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock worth $156,651,000 after buying an additional 30,480 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Q2 by 2.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,813 shares of the technology company's stock valued at $1,905,000 after buying an additional 562 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Q2 by 31.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company's stock worth $196,000 after acquiring an additional 578 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.

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