Q2 (NYSE:QTWO) Hits New 52-Week High – Time to Buy?

Q2 Holdings, Inc. (NYSE:QTWO)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.73 and last traded at $82.20, with a volume of 16720 shares changing hands. The stock had previously closed at $81.92.

Analyst Ratings Changes

QTWO has been the subject of several research analyst reports. Compass Point assumed coverage on shares of Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating and set a $76.00 target price on shares of Q2 in a research report on Monday, September 30th. Needham & Company LLC upped their price target on shares of Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.38.

Q2 Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The company has a fifty day moving average price of $74.90 and a two-hundred day moving average price of $65.08. The company has a market cap of $4.94 billion, a P/E ratio of -60.67 and a beta of 1.59.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The company had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the transaction, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock valued at $3,109,699 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its position in Q2 by 45.2% during the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after acquiring an additional 20,195 shares during the last quarter. Jennison Associates LLC raised its holdings in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after buying an additional 235,582 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Q2 by 67.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after buying an additional 22,400 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Q2 during the 1st quarter worth approximately $1,055,000. Finally, Perpetual Ltd acquired a new position in Q2 in the 3rd quarter valued at approximately $80,788,000.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.