J P Morgan Chase & Co lowered shares of Q2 (NYSE:QTWO) from an overweight rating to a neutral rating in a report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $50.00 price objective on the technology company’s stock.
Several other research firms have also commented on QTWO. KeyCorp reiterated a hold rating on shares of Q2 in a research report on Wednesday, September 13th. BidaskClub upgraded shares of Q2 from a hold rating to a buy rating in a research report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Q2 from a hold rating to a sell rating in a research report on Wednesday, October 4th. BTIG Research reiterated a buy rating and issued a $47.00 price objective on shares of Q2 in a research report on Sunday, November 5th. Finally, SunTrust Banks reiterated a buy rating on shares of Q2 in a research report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $45.36.
Q2 (NYSE:QTWO) traded down $0.75 during trading hours on Tuesday, hitting $37.30. 170,200 shares of the stock were exchanged, compared to its average volume of 220,117. Q2 has a fifty-two week low of $28.30 and a fifty-two week high of $44.35.
Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. Q2 had a negative net margin of 15.27% and a negative return on equity of 20.50%. The business had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $50.05 million. During the same period in the prior year, the company posted ($0.24) EPS. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. research analysts predict that Q2 will post -0.48 earnings per share for the current year.
In other Q2 news, Director Jeffrey T. Diehl sold 800,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $41.50, for a total value of $33,200,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl James Schaper sold 20,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $39.41, for a total transaction of $788,200.00. Following the completion of the transaction, the director now owns 44,172 shares in the company, valued at $1,740,818.52. The disclosure for this sale can be found here. Insiders sold a total of 1,012,086 shares of company stock worth $41,948,730 over the last quarter. Insiders own 24.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in QTWO. Franklin Resources Inc. lifted its holdings in Q2 by 55.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock valued at $55,523,000 after purchasing an additional 536,772 shares in the last quarter. Emerald Advisers Inc. PA purchased a new position in Q2 in the 3rd quarter valued at about $15,520,000. Penn Capital Management Co. Inc. lifted its holdings in Q2 by 3,059.9% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 303,822 shares of the technology company’s stock valued at $11,243,000 after purchasing an additional 294,207 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in Q2 by 371.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 305,361 shares of the technology company’s stock valued at $12,718,000 after purchasing an additional 240,645 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Q2 by 6.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,943,396 shares of the technology company’s stock valued at $108,759,000 after purchasing an additional 190,171 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Q2 (QTWO) Downgraded by J P Morgan Chase & Co” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/15/q2-qtwo-downgraded-by-j-p-morgan-chase-co.html.
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
Receive News & Ratings for Q2 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 and related companies with MarketBeat.com's FREE daily email newsletter.