Q2 (NYSE:QTWO) General Counsel Michael Kerr Sells 397 Shares of Stock

Q2 Holdings, Inc. (NYSE:QTWO) General Counsel Michael Kerr sold 397 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $44.98, for a total value of $17,857.06. Following the transaction, the general counsel owned 81,375 shares in the company, valued at $3,660,247.50. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q2 Price Performance

Shares of NYSE:QTWO opened at $45.06 on Friday. Q2 Holdings, Inc. has a 1 year low of $44.46 and a 1 year high of $96.68. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 40.23 and a beta of 1.39. The business’s 50 day moving average price is $49.04 and its 200-day moving average price is $59.90.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The business had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. During the same quarter last year, the business earned $0.07 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus set a $70.00 target price on Q2 in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price objective on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research note on Thursday, February 12th. Cantor Fitzgerald reduced their price objective on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Robert W. Baird set a $74.00 price objective on Q2 in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.27.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Q2 in the 2nd quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in Q2 in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Q2 in the 4th quarter valued at $27,000. Cullen Frost Bankers Inc. purchased a new stake in Q2 in the 3rd quarter valued at $27,000. Finally, First Horizon Corp purchased a new stake in Q2 in the 3rd quarter valued at $37,000.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.