Key Points
- Q2 General Counsel Michael Kerr sold 2,655 shares for about $198,621 at an average price of $74.81, under a pre-arranged Rule 10b5-1 plan. He retained 78,084 shares after the sale.
- Q2’s latest quarterly results beat expectations: adjusted earnings were $0.74 per share versus $0.72 forecast, while revenue of $225.77 million was up 11.9% year over year.
- Analysts give Q2 a consensus “Moderate Buy” rating, with an average price target of $78.33; the stock was reported up 1.5% in Friday trading.
Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) General Counsel Michael Kerr sold 2,655 shares of the firm's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $74.81, for a total transaction of $198,620.55. Following the sale, the general counsel owned 78,084 shares of the company's stock, valued at approximately $5,841,464.04. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Q2 Stock Up 1.5%
Q2 stock traded up $1.07 during trading hours on Friday, hitting $74.03. The stock had a trading volume of 257,720 shares, compared to its average volume of 864,325. The stock has a market capitalization of $4.57 billion, a P/E ratio of 43.80 and a beta of 1.36. Q2 Holdings, Inc. has a 12-month low of $40.79 and a 12-month high of $76.37. The stock's 50-day moving average price is $63.27 and its 200-day moving average price is $55.09.
Q2 (NYSE:QTWO - Get Free Report) last issued its earnings results on Wednesday, October 28th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Q2 had a net margin of 12.66% and a return on equity of 17.85%. The firm had revenue of $225.77 million for the quarter, compared to the consensus estimate of $221.23 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Q2 Holdings, Inc. will post 1.88 EPS for the current fiscal year.
Hedge Funds Weigh In On Q2
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of Q2 by 34.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company's stock worth $47,760,000 after acquiring an additional 259,912 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Q2 by 7.8% during the first quarter. The Manufacturers Life Insurance Company now owns 698,693 shares of the technology company's stock valued at $33,048,000 after purchasing an additional 50,473 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company's stock valued at $24,418,000 after purchasing an additional 300,375 shares during the period. Bank of New York Mellon Corp bought a new position in Q2 during the second quarter valued at approximately $19,639,000. Finally, Bessemer Group Inc. lifted its position in Q2 by 206.0% during the third quarter. Bessemer Group Inc. now owns 373,276 shares of the technology company's stock valued at $20,693,000 after purchasing an additional 251,271 shares during the period.
Wall Street Analysts Forecast Growth
QTWO has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. JPMorgan Chase & Co. upped their price objective on Q2 from $72.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Needham & Company LLC increased their target price on Q2 from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Morgan Stanley lifted their target price on Q2 from $63.00 to $68.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Finally, Stephens assumed coverage on Q2 in a report on Thursday, October 15th. They issued an "overweight" rating and a $74.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $78.33.
Check Out Our Latest Research Report on Q2
About Q2
(
Get Free Report)
Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company's offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
