Q2 Holdings, Inc. (NYSE:QTWO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Q2 Holdings, Inc. provides secure, cloud-based virtual banking solutions. The Company’s solutions include Q2online, Q2themes, Q2mobility App, Q2mobile Remote Deposit Capture, Q2text, Q2voice, Q2clarity and Q2 Risk & Fraud Analytics. It enables regional and community financial institutions, or RCFIs, to deliver a suite of integrated virtual banking services. Q2 Holdings, Inc. is headquartered in Austin, Texas. “
QTWO has been the topic of several other research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $43.00 target price on shares of Q2 Holdings in a research note on Tuesday, August 1st. BTIG Research raised Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, May 5th. ValuEngine raised Q2 Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on Q2 Holdings in a research note on Monday, June 26th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Q2 Holdings in a research note on Friday, May 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.13.
Q2 Holdings (QTWO) opened at 37.05 on Thursday. Q2 Holdings has a 52-week low of $25.23 and a 52-week high of $40.50. The firm has a 50-day moving average price of $37.88 and a 200 day moving average price of $36.68. The firm’s market capitalization is $1.52 billion.
In other news, CFO Jennifer Noel Harris sold 10,000 shares of Q2 Holdings stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $39.38, for a total transaction of $393,800.00. Following the transaction, the chief financial officer now directly owns 64,575 shares in the company, valued at approximately $2,542,963.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam D. Blue sold 25,000 shares of Q2 Holdings stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $39.33, for a total value of $983,250.00. Following the transaction, the insider now owns 65,805 shares in the company, valued at $2,588,110.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 380,277 shares of company stock worth $14,461,224. 24.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of Q2 Holdings by 37.5% in the fourth quarter. Macquarie Group Ltd. now owns 377,492 shares of the technology company’s stock valued at $10,891,000 after buying an additional 102,941 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Q2 Holdings during the fourth quarter valued at about $235,000. State Street Corp boosted its position in shares of Q2 Holdings by 7.4% in the fourth quarter. State Street Corp now owns 450,219 shares of the technology company’s stock valued at $12,987,000 after buying an additional 30,998 shares during the period. First Mercantile Trust Co. boosted its position in shares of Q2 Holdings by 249.8% in the first quarter. First Mercantile Trust Co. now owns 7,555 shares of the technology company’s stock valued at $263,000 after buying an additional 5,395 shares during the period. Finally, OppenheimerFunds Inc. purchased a new position in shares of Q2 Holdings during the first quarter valued at about $21,406,000. Institutional investors own 93.99% of the company’s stock.
About Q2 Holdings
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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