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

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

Wall Street Analyst Weigh In

Several brokerages recently commented on QTWO. Truist Financial reissued a “buy” rating and issued a $100.00 price target (up previously from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. BTIG Research lifted their price objective on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Stephens upped their price objective on shares of Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC raised their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.50.

Q2 Stock Performance

The stock has a market cap of $6.31 billion, a P/E ratio of -108.84 and a beta of 1.58. The firm has a 50 day moving average of $88.38 and a two-hundred day moving average of $73.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

Insider Activity

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction that occurred 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 sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,493 shares of company stock valued at $196,863. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of Q2 by 5,990.6% during the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after buying an additional 1,190,274 shares during the period. Perpetual Ltd acquired a new position in Q2 during the third quarter worth $80,788,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock valued at $48,558,000 after purchasing an additional 354,524 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Q2 in the 2nd quarter worth about $13,490,000.

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.