Q2 (NYSE:QTWO) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Q2 (NYSE:QTWO) from a neutral rating to an outperform rating in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $70.00 price target on the technology company’s stock, down from their prior price target of $82.00.

QTWO has been the topic of a number of other research reports. UBS Group set a $67.00 target price on Q2 in a research note on Thursday, February 12th. Morgan Stanley set a $68.00 target price on Q2 in a research note on Thursday, February 12th. Needham & Company LLC lowered their target price on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Cantor Fitzgerald lowered their target price on Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Finally, DA Davidson upgraded Q2 from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, February 3rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Q2 Price Performance

Shares of QTWO opened at $49.36 on Tuesday. The firm has a market capitalization of $3.08 billion, a PE ratio of 62.48 and a beta of 1.42. The company’s 50-day moving average is $51.42 and its 200-day moving average is $62.90. Q2 has a fifty-two week low of $44.65 and a fifty-two week high of $96.68.

Insider Buying and Selling at Q2

In related news, CEO Matthew P. Flake sold 91,590 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total transaction of $4,556,602.50. Following the transaction, the chief executive officer directly owned 503,815 shares of the company’s stock, valued at approximately $25,064,796.25. This trade represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan Price sold 32,156 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,599,761.00. Following the transaction, the chief financial officer owned 197,135 shares in the company, valued at approximately $9,807,466.25. This trade represents a 14.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 411,087 shares of company stock valued at $20,702,472 in the last quarter. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank increased its stake in Q2 by 9.8% during the 3rd quarter. Hilltop National Bank now owns 2,077 shares of the technology company’s stock worth $150,000 after acquiring an additional 185 shares during the period. California State Teachers Retirement System increased its holdings in Q2 by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after buying an additional 194 shares during the period. Maryland State Retirement & Pension System increased its holdings in Q2 by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock valued at $662,000 after buying an additional 197 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Q2 by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock valued at $1,032,000 after buying an additional 200 shares during the period. Finally, FJ Capital Management LLC increased its holdings in Q2 by 5.0% in the 2nd quarter. FJ Capital Management LLC now owns 4,236 shares of the technology company’s stock valued at $396,000 after buying an additional 201 shares during the period.

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.