Q2 (NYSE:QTWO) Hits New 12-Month High – Here’s What Happened

Q2 Holdings, Inc. (NYSE:QTWO)’s share price hit a new 52-week high on Thursday . The company traded as high as $105.14 and last traded at $104.85, with a volume of 217045 shares. The stock had previously closed at $101.44.

Analysts Set New Price Targets

QTWO has been the topic of several analyst reports. BTIG Research raised their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Stifel Nicolaus raised their price target on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $100.00 price target (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. DA Davidson increased their price objective on shares of Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $72.00 to $90.00 in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Q2 Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The company has a 50 day moving average of $85.41 and a 200-day moving average of $72.32.

Insider Transactions at Q2

In related news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,963 shares of company stock worth $2,321,659. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Q2 by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after buying an additional 19,520 shares during the period. Barclays PLC lifted its holdings in Q2 by 104.0% in the 3rd quarter. Barclays PLC now owns 163,138 shares of the technology company’s stock valued at $13,012,000 after acquiring an additional 83,181 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Q2 in the 3rd quarter worth approximately $576,000. State Street Corp raised its holdings in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Q2 by 12.1% during the third quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock valued at $514,000 after purchasing an additional 698 shares during 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.