Canaccord Genuity cut shares of Q2 Holdings, Inc. (NYSE:QTWO) from a buy rating to a hold rating in a research note released on Thursday, November 2nd, The Fly reports.
Other equities analysts also recently issued reports about the stock. KeyCorp restated a hold rating on shares of Q2 Holdings in a research note on Wednesday, September 13th. BidaskClub downgraded shares of Q2 Holdings from a buy rating to a hold rating in a research note on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of Q2 Holdings from a hold rating to a sell rating in a research note on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Q2 Holdings currently has an average rating of Buy and a consensus target price of $45.67.
Shares of Q2 Holdings (NYSE:QTWO) traded up $0.15 during trading on Thursday, hitting $43.10. 119,100 shares of the stock traded hands, compared to its average volume of 221,979. Q2 Holdings has a 1-year low of $27.80 and a 1-year high of $43.65.
Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. Q2 Holdings had a negative net margin of 15.27% and a negative return on equity of 20.50%. The firm had revenue of $50.10 million for the quarter, compared to analyst estimates of $50.05 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. analysts anticipate that Q2 Holdings will post -0.49 earnings per share for the current year.
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In other Q2 Holdings news, Director R. H. Seale sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.95, for a total transaction of $1,887,750.00. Following the completion of the transaction, the director now owns 383,828 shares in the company, valued at approximately $16,101,584.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam D. Blue sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $39.67, for a total transaction of $1,388,450.00. Following the transaction, the insider now owns 75,805 shares of the company’s stock, valued at approximately $3,007,184.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,325 shares of company stock worth $9,179,970. 24.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Dubuque Bank & Trust Co. bought a new stake in shares of Q2 Holdings during the 2nd quarter worth $102,000. Ameritas Investment Partners Inc. raised its stake in Q2 Holdings by 38.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after acquiring an additional 759 shares during the period. SG Americas Securities LLC bought a new stake in Q2 Holdings in the 1st quarter valued at about $109,000. Oppenheimer Asset Management Inc. raised its stake in Q2 Holdings by 16,455.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,980 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,962 shares during the period. Finally, Pacad Investment Ltd. bought a new stake in Q2 Holdings in the 2nd quarter valued at about $111,000. Institutional investors own 92.19% of the company’s stock.
Q2 Holdings Company Profile
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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