Q2 (NYSE:QTWO) Downgraded by Baird R W to "Hold"

Baird R W cut shares of Q2 (NYSE:QTWO - Free Report) from a strong-buy rating to a hold rating in a research note released on Friday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Citigroup lowered Q2 from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, October 18th. Robert W. Baird reiterated a "neutral" rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday. Compass Point raised their price target on Q2 from $91.00 to $107.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Truist Financial reaffirmed a "buy" rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.07.

Q2 Stock Performance

QTWO stock traded down $10.96 on Friday, hitting $88.88. The company's stock had a trading volume of 1,424,668 shares, compared to its average volume of 670,375. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of -92.58 and a beta of 1.61. The firm has a 50 day moving average of $102.29 and a two-hundred day moving average of $83.29. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 has a 1 year low of $40.60 and a 1 year high of $112.82.

Insider Transactions at Q2

In other Q2 news, President Kirk L. Coleman sold 10,428 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total value 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 $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Offerdahl sold 548 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the transaction, the director now owns 18,241 shares of the company's stock, valued at $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock valued at $3,061,035 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Q2 by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 86,849 shares of the technology company's stock worth $5,240,000 after buying an additional 5,583 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Q2 by 2.6% during the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company's stock valued at $998,000 after purchasing an additional 423 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Q2 during the 2nd quarter worth approximately $153,000. American Century Companies Inc. lifted its holdings in shares of Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company's stock worth $73,008,000 after purchasing an additional 1,190,274 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Q2 by 5.4% during the 2nd quarter. Federated Hermes Inc. now owns 770,134 shares of the technology company's stock valued at $46,462,000 after purchasing an additional 39,406 shares during the period.

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.