Q2 (NYSE:QTWO) had its price target lifted by Loop Capital to $67.00 in a research note published on Thursday, The Fly reports. Loop Capital currently has an in-line rating on the technology company’s stock.
A number of other research analysts have also recently issued reports on QTWO. Stifel Nicolaus reaffirmed a buy rating and set a $68.00 price objective on shares of Q2 in a research note on Thursday. TheStreet raised Q2 from a d rating to a c rating in a research note on Thursday, May 3rd. Morgan Stanley raised their target price on Q2 to $47.00 and gave the stock an equal weight rating in a research note on Monday, May 7th. Canaccord Genuity raised their target price on Q2 from $53.00 to $60.00 and gave the stock a hold rating in a research note on Thursday, June 21st. Finally, SunTrust Banks cut Q2 from a buy rating to a hold rating and set a $45.00 target price on the stock. in a research note on Monday, May 21st. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $58.38.
Shares of QTWO stock remained flat at $$60.50 on Thursday. The company had a trading volume of 237,860 shares, compared to its average volume of 331,846. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 1.13. Q2 has a one year low of $35.05 and a one year high of $64.25.
In other news, Director Carl James Schaper sold 20,000 shares of Q2 stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $61.34, for a total transaction of $1,226,800.00. Following the completion of the transaction, the director now directly owns 39,867 shares in the company, valued at $2,445,441.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Adam D. Blue sold 60,000 shares of Q2 stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $57.19, for a total transaction of $3,431,400.00. Following the transaction, the chief technology officer now owns 95,848 shares of the company’s stock, valued at $5,481,547.12. The disclosure for this sale can be found here. Insiders have sold 279,096 shares of company stock valued at $16,102,186 over the last quarter. Company insiders own 17.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vista Equity Partners Management LLC bought a new stake in shares of Q2 during the 1st quarter valued at $4,621,000. Renaissance Technologies LLC grew its position in shares of Q2 by 33.1% during the 4th quarter. Renaissance Technologies LLC now owns 47,900 shares of the technology company’s stock valued at $1,765,000 after acquiring an additional 11,900 shares during the period. Federated Investors Inc. PA grew its position in shares of Q2 by 3.0% during the 1st quarter. Federated Investors Inc. PA now owns 871,735 shares of the technology company’s stock valued at $39,708,000 after acquiring an additional 25,790 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Q2 during the 4th quarter valued at $546,000. Finally, OZ Management LP bought a new stake in shares of Q2 during the 1st quarter valued at $1,704,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.
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