Baird R W Downgrades Q2 (NYSE:QTWO) to Hold

Baird R W downgraded shares of Q2 (NYSE:QTWO) from a strong-buy rating to a hold rating in a report issued on Friday,Zacks.com reports.

QTWO has been the subject of a number of other reports. Needham & Company LLC lifted their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Compass Point increased their target price on Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a report on Wednesday, December 18th. Finally, Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.07.

Q2 Price Performance

Q2 stock opened at $88.88 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5.37 billion, a P/E ratio of -92.58 and a beta of 1.61. The firm has a fifty day moving average of $102.29 and a 200-day moving average of $83.12. Q2 has a 52-week low of $40.60 and a 52-week high of $112.82.

Insiders Place Their Bets

In related news, Director James Offerdahl sold 548 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the sale, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the transaction, the president now owns 337,643 shares in the company, valued at $35,931,968.06. The trade was a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock valued at $3,061,035 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Trading of Q2

Several hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co bought a new stake in shares of Q2 in the fourth quarter valued at approximately $203,000. Nordea Investment Management AB raised its stake in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after purchasing an additional 42,433 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Q2 by 38.6% in the 3rd quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company’s stock valued at $14,095,000 after purchasing an additional 49,233 shares during the period. Franklin Resources Inc. grew its position in Q2 by 17.5% in the 3rd quarter. Franklin Resources Inc. now owns 47,461 shares of the technology company’s stock worth $3,888,000 after purchasing an additional 7,053 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Q2 by 48.7% during the 3rd quarter. Tidal Investments LLC now owns 10,646 shares of the technology company’s stock worth $849,000 after purchasing an additional 3,486 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.