Q2 (NYSE:QTWO) Raised to Overweight at KeyCorp

KeyCorp upgraded shares of Q2 (NYSE:QTWO) from a sector weight rating to an overweight rating in a report published on Wednesday morning, MarketBeat Ratings reports. KeyCorp currently has $126.00 price target on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Truist Financial reiterated a “buy” rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a research note on Thursday, November 7th. BTIG Research lifted their price target on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. DA Davidson upped their price objective on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Citigroup lowered Q2 from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Finally, Piper Sandler raised their price objective on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.80.

Q2 Price Performance

QTWO traded up $1.47 on Wednesday, reaching $103.81. The company had a trading volume of 82,450 shares, compared to its average volume of 603,081. The company has a market capitalization of $6.27 billion, a P/E ratio of -108.13 and a beta of 1.60. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $96.06 and a 200-day moving average of $78.28. Q2 has a one year low of $39.66 and a one year high of $112.82.

Insider Activity

In related news, President Kirk L. Coleman sold 10,428 shares of Q2 stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares of the company’s stock, valued at approximately $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Offerdahl sold 548 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the sale, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,836 shares of company stock worth $3,061,035. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC increased its position in Q2 by 1.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after buying an additional 34,300 shares during the last quarter. State Street Corp lifted its holdings in Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Q2 by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock worth $107,963,000 after purchasing an additional 19,520 shares during the last quarter. Hood River Capital Management LLC boosted its position in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after purchasing an additional 67,757 shares during the period. Finally, American Century Companies Inc. grew its holdings in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after purchasing an additional 1,190,274 shares during the last quarter.

About Q2

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.