Wall Street Zen Upgrades Q2 (NYSE:QTWO) to “Strong-Buy”

Q2 (NYSE:QTWO) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued reports about the company. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Stifel Nicolaus set a $75.00 target price on Q2 in a report on Thursday, February 12th. Royal Bank Of Canada cut their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Stephens set a $90.00 price objective on shares of Q2 in a research note on Friday, January 16th. Finally, Needham & Company LLC dropped their price objective on shares of Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.29.

Q2 Stock Down 1.8%

Shares of NYSE QTWO opened at $50.78 on Friday. The stock has a market capitalization of $3.17 billion, a PE ratio of 64.28 and a beta of 1.36. The firm has a fifty day moving average of $65.44 and a 200-day moving average of $69.60. Q2 has a 52-week low of $50.48 and a 52-week high of $96.68.

Insider Activity

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $75.46, for a total value of $386,581.58. Following the completion of the transaction, the executive directly owned 166,512 shares of the company’s stock, valued at $12,564,995.52. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Himagiri K. Mukkamala sold 3,024 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $222,808.32. Following the sale, the chief operating officer owned 96,046 shares of the company’s stock, valued at $7,076,669.28. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,883 shares of company stock worth $1,547,778. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors increased its holdings in Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after purchasing an additional 1,454,076 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Q2 by 13.5% in the third quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock worth $572,772,000 after buying an additional 941,672 shares during the last quarter. North Reef Capital Management LP raised its holdings in Q2 by 101.1% in the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock valued at $122,339,000 after acquiring an additional 849,480 shares in the last quarter. UBS Group AG raised its holdings in Q2 by 343.5% in the third quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock valued at $73,110,000 after acquiring an additional 782,220 shares in the last quarter. Finally, Norges Bank bought a new position in Q2 during the 2nd quarter valued at $60,466,000.

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.