KeyCorp Upgrades Q2 (NYSE:QTWO) to “Overweight”

Q2 (NYSE:QTWO) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $126.00 price objective on the technology company’s stock. KeyCorp’s price target indicates a potential upside of 20.50% from the company’s previous close.

Several other brokerages have also issued reports on QTWO. Morgan Stanley boosted their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Compass Point upped their target price on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research increased 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. Finally, Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.80.

Q2 Stock Performance

NYSE:QTWO opened at $104.56 on Wednesday. The firm’s 50-day moving average is $95.63 and its 200-day moving average is $78.11. The company has a market cap of $6.32 billion, a price-to-earnings ratio of -108.92 and a beta of 1.60. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. Q2 has a 52-week low of $39.66 and a 52-week high of $112.82.

Insider Buying and Selling at Q2

In other news, Director James Offerdahl sold 548 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the sale, the director now owns 18,241 shares in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Michael A. Volanoski sold 4,178 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total value of $442,868.00. Following the completion of the transaction, the executive now owns 223,494 shares in the company, valued at approximately $23,690,364. This represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,836 shares of company stock worth $3,061,035. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Versor Investments LP acquired a new position in Q2 in the third quarter valued at approximately $590,000. Perpetual Ltd bought a new stake in shares of Q2 during the 3rd quarter valued at $80,788,000. BNP Paribas Financial Markets raised its position in shares of Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 7,475 shares during the last quarter. State Street Corp lifted its stake in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Q2 in the 3rd quarter worth $1,227,000.

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.