Q2 (NYSE:QTWO) Stock Price Down 6.2% - What's Next?

Key Points

• Q2 Holdings, Inc. (NYSE:QTWO) experienced a 6.2% decline in stock price, closing at $79.05 after trading as low as $78.96.
• Wall Street analysts have mixed opinions, with some firms raising their price targets, while one downgraded the stock from "strong-buy" to "buy," leading to a consensus rating of "Moderate Buy" with an average target price of $102.25.
• Recent insider transactions saw the General Counsel selling shares and institutional investors significantly increasing their stakes, suggesting active investor interest despite the stock's recent decline.

Shares of Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) fell 6.2% during mid-day trading on Friday . The company traded as low as $78.96 and last traded at $79.05. 1,280,637 shares changed hands during trading, an increase of 70% from the average session volume of 755,360 shares. The stock had previously closed at $84.24.

Analyst Upgrades and Downgrades

QTWO has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Stifel Nicolaus raised their price objective on Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Cantor Fitzgerald initiated coverage on shares of Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price target on the stock. Finally, Needham & Company LLC upped their price objective on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.25.

Q2 Stock Performance

The stock has a market capitalization of $4.93 billion, a PE ratio of 1,579.56 and a beta of 1.49. The business's 50-day moving average price is $81.21 and its 200 day moving average price is $82.97.

Insider Transactions at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 967 shares of Q2 stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $82.60, for a total transaction of $79,874.20. Following the completion of the sale, the general counsel owned 56,228 shares of the company's stock, valued at $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction on Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,499 shares of company stock valued at $650,658. Insiders own 3.00% of the company's stock.

Institutional Trading of Q2

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of Q2 by 6.9% during the first quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock valued at $6,987,000 after buying an additional 5,672 shares during the last quarter. Strs Ohio purchased a new stake in Q2 during the first quarter valued at approximately $4,329,000. Public Employees Retirement System of Ohio purchased a new position in Q2 during the fourth quarter valued at $140,000. SG Americas Securities LLC grew its stake in shares of 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 acquiring an additional 9,658 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Q2 by 67.0% in the first quarter. Intech Investment Management LLC now owns 34,561 shares of the technology company's stock worth $2,765,000 after purchasing an additional 13,866 shares in 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.