Key Points
- Q2 General Counsel Michael Kerr sold 636 shares at an average price of $60.96, totaling $38,770.56. The sale covered tax-withholding obligations related to vested equity awards and reduced his direct ownership by 0.78%.
- Q2 reported quarterly EPS of $0.70, exceeding the $0.68 consensus estimate, while revenue reached $219.77 million, up 12.6% year over year and above expectations.
- Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $76.17, compared with the stock’s reported price near $60.91.
Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) General Counsel Michael Kerr sold 636 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $60.96, for a total value of $38,770.56. Following the transaction, the general counsel directly owned 80,739 shares of the company's stock, valued at $4,921,849.44. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Q2 Trading Up 1.0%
Shares of Q2 stock opened at $60.91 on Friday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 43.51 and a beta of 1.33. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $85.13. The business's 50 day simple moving average is $60.02 and its 200-day simple moving average is $52.09.
Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The business's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Sell-side analysts predict that Q2 Holdings, Inc. will post 1.84 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of Q2 by 4,299.6% during the second quarter. California State Teachers Retirement System now owns 3,199,564 shares of the technology company's stock valued at $153,899,000 after purchasing an additional 3,126,840 shares in the last quarter. Capital Research Global Investors grew its position in Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company's stock valued at $226,658,000 after buying an additional 1,454,076 shares in the last quarter. William Blair Investment Management LLC grew its position in Q2 by 25.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company's stock valued at $194,451,000 after buying an additional 553,713 shares in the last quarter. Wasatch Advisors LP increased its stake in Q2 by 2.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company's stock valued at $156,221,000 after buying an additional 60,016 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company's stock valued at $57,253,000 after buying an additional 657,707 shares during the period.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and issued a $82.00 price objective on shares of Q2 in a report on Thursday, July 23rd. Weiss Ratings raised shares of Q2 from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Royal Bank Of Canada upped their target price on shares of Q2 from $67.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Monday, August 31st. Zacks Research upgraded shares of Q2 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Q2 from $63.00 to $68.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.17.
Get Our Latest Analysis on QTWO
About Q2
(
Get Free Report)
Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.
The company's offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.
Further Reading
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