Q2 Holdings Inc. (NYSE:QTWO) Director R. H. Seale sold 82,000 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $28.50, for a total value of $2,337,000.00. Following the transaction, the director now owns 379,798 shares of the company’s stock, valued at approximately $10,824,243. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Q2 Holdings Inc. (NYSE:QTWO) opened at 28.37 on Friday. Q2 Holdings Inc. has a 52 week low of $16.43 and a 52 week high of $30.73. The company’s market cap is $1.13 billion. The company has a 50-day moving average of $28.44 and a 200-day moving average of $26.46.
Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.13. Q2 Holdings had a negative net margin of 27.14% and a negative return on equity of 22.39%. The firm earned $36 million during the quarter, compared to analysts’ expectations of $35.66 million. Q2 Holdings’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts predict that Q2 Holdings Inc. will post ($0.35) EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Q2 Holdings by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 151,379 shares of the company’s stock valued at $4,241,000 after buying an additional 25,999 shares during the period. JPMorgan Chase & Co. boosted its stake in Q2 Holdings by 28.9% in the first quarter. JPMorgan Chase & Co. now owns 1,773,208 shares of the company’s stock valued at $42,628,000 after buying an additional 397,939 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Q2 Holdings during the second quarter valued at $304,000. State Board of Administration of Florida Retirement System boosted its stake in Q2 Holdings by 19.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,822 shares of the company’s stock valued at $555,000 after buying an additional 3,228 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Q2 Holdings by 2.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,249,638 shares of the company’s stock valued at $54,081,000 after buying an additional 62,038 shares during the period. 89.16% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Q2 Holdings in a research note on Monday, August 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $31.00 price target (up previously from $27.00) on shares of Q2 Holdings in a research note on Friday, August 5th. Royal Bank Of Canada lifted their price target on shares of Q2 Holdings from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Q2 Holdings in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Q2 Holdings presently has a consensus rating of “Buy” and a consensus target price of $30.50.
About Q2 Holdings
Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.
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