Q2 (NYSE:QTWO) Trading Down 6.2% – Here’s Why

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price fell 6.2% on Friday . The company traded as low as $91.76 and last traded at $93.62. 110,811 shares were traded during mid-day trading, a decline of 75% from the average session volume of 434,640 shares. The stock had previously closed at $99.84.

Analysts Set New Price Targets

QTWO has been the subject of a number of analyst reports. Robert W. Baird reissued a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Compass Point upped their price objective on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, DA Davidson boosted their target price on Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Q2 Stock Performance

The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -92.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a 50-day moving average of $102.29 and a 200 day moving average of $83.29.

Insider Transactions at Q2

In other news, President Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $907,254.00. Following the completion of the sale, the president now directly owns 340,903 shares of the company’s stock, valued at $36,135,718. This represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 548 shares of Q2 stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the transaction, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock worth $3,061,035 in the last quarter. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Q2

Several hedge funds have recently bought and sold shares of the company. Versor Investments LP bought a new stake in shares of Q2 in the 3rd quarter valued at $590,000. Perpetual Ltd acquired a new position in Q2 in the third quarter valued at about $80,788,000. BNP Paribas Financial Markets increased its holdings in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after acquiring an additional 7,475 shares in the last quarter. State Street Corp raised its position in shares of Q2 by 0.3% during the third 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 during the period. Finally, Intech Investment Management LLC bought a new position in shares of Q2 during the 3rd quarter valued at about $1,227,000.

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.