Q2 (NYSE:QTWO) Cut to “Hold” at Baird R W

Baird R W cut shares of Q2 (NYSE:QTWO) from a strong-buy rating to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $100.00 price objective (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. Stephens boosted their target price on Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their target price on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Q2 Stock Performance

Shares of Q2 stock opened at $88.88 on Friday. The business has a 50-day moving average of $102.29 and a 200 day moving average of $83.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. Q2 has a 12 month low of $40.60 and a 12 month high of $112.82. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -92.58 and a beta of 1.61.

Insider Buying and Selling at Q2

In other Q2 news, Director James Offerdahl sold 548 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the sale, the director now owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Michael A. Volanoski sold 4,178 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the sale, the executive now directly owns 223,494 shares in the company, valued at approximately $23,690,364. The trade was a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its stake in Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the period. CWM LLC increased its holdings in shares of Q2 by 199.8% during the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after buying an additional 961 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. grew its position in Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after acquiring an additional 964 shares during the period. Finally, Diversified Trust Co acquired a new stake in Q2 during the fourth quarter worth about $203,000.

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.