Q2 (NYSE:QTWO) Shares Down 6.2% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley upped their price objective on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on Q2 from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. DA Davidson raised their price target on shares of Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Q2 Trading Down 11.0 %

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

Insider Buying and Selling

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $106.12, for a total value of $543,652.76. Following the transaction, the executive now directly owns 218,371 shares of the company’s stock, valued at $23,173,530.52. This represents a 2.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the sale, the president now owns 337,643 shares of the company’s stock, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Q2

A number of large investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC boosted its stake in Q2 by 1.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after purchasing an additional 34,300 shares during the period. State Street Corp boosted its position in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position 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 acquiring an additional 19,520 shares during the period. Hood River Capital Management LLC increased its position in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after acquiring an additional 67,757 shares during the period. Finally, American Century Companies Inc. increased its position in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after acquiring an additional 1,190,274 shares during the period.

Q2 Company Profile

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.