Q2 (NYSE:QTWO) Sets New 52-Week High - Here's Why

Q2 Holdings, Inc. (NYSE:QTWO - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $108.00 and last traded at $106.99, with a volume of 339372 shares changing hands. The stock had previously closed at $107.36.

Analysts Set New Price Targets

Several brokerages have commented on QTWO. BTIG Research upped their price objective on shares of Q2 from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Piper Sandler lifted their price target 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. Compass Point boosted their price target on Q2 from $91.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Q2 from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their price objective on Q2 from $76.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Q2 Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The stock's 50-day moving average is $87.32 and its two-hundred day moving average is $73.41.

Insider Activity

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the transaction, the executive now directly owns 227,672 shares of the company's stock, valued at $16,376,446.96. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 548 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,493 shares of company stock worth $196,863 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Q2

Large investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company's stock valued at $29,000 after buying an additional 169 shares during the last quarter. Quarry LP increased its stake in Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company's stock worth $30,000 after purchasing an additional 336 shares during the period. International Assets Investment Management LLC lifted its position in shares of Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company's stock worth $146,000 after purchasing an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock valued at $148,000 after purchasing an additional 964 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Q2 in the second quarter worth about $153,000.

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.