Q2 (NYSE:QTWO) Sets New 52-Week High at $52.98

Shares of Q2 Holdings, Inc. (NYSE:QTWO) reached a new 52-week high on Thursday . The company traded as high as $52.98 and last traded at $52.78, with a volume of 11450 shares traded. The stock had previously closed at $52.50.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QTWO. Stephens raised shares of Q2 from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Thursday, December 7th. Canaccord Genuity Group boosted their price target on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson raised their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Piper Sandler raised their target price on shares of Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.40.

Q2 Price Performance

The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average price is $45.77 and its 200 day moving average price is $39.40.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The business had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. On average, equities analysts predict that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other Q2 news, Director R. H. Seale sold 9,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $48.49, for a total transaction of $436,410.00. Following the sale, the director now directly owns 372,754 shares of the company’s stock, valued at approximately $18,074,841.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $48.49, for a total transaction of $436,410.00. Following the sale, the director now owns 372,754 shares of the company’s stock, valued at approximately $18,074,841.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 2,369 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the completion of the transaction, the executive now owns 174,024 shares of the company’s stock, valued at $8,718,602.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,313 shares of company stock valued at $14,889,214. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently modified their holdings of QTWO. MCF Advisors LLC lifted its holdings in Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Q2 in the 1st quarter valued at about $49,000. International Assets Investment Management LLC boosted its holdings in Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after buying an additional 878 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Q2 by 193.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after acquiring an additional 738 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Q2 by 370.8% in the second quarter. Captrust Financial Advisors now owns 1,243 shares of the technology company’s stock valued at $48,000 after acquiring an additional 979 shares in the last quarter.

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.