Motley Fool Asset Management LLC grew its position in shares of Q2 Holdings Inc (NYSE:QTWO) by 19.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,606 shares of the technology company’s stock after purchasing an additional 5,720 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Q2 were worth $2,397,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Pearl River Capital LLC bought a new stake in Q2 in the first quarter worth approximately $76,000. Strs Ohio bought a new stake in Q2 in the first quarter worth approximately $145,000. Great West Life Assurance Co. Can increased its holdings in Q2 by 33.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,203 shares of the technology company’s stock worth $201,000 after purchasing an additional 1,042 shares in the last quarter. Diversified Trust Co bought a new stake in Q2 in the fourth quarter worth approximately $237,000. Finally, Amalgamated Bank bought a new stake in Q2 in the fourth quarter worth approximately $266,000. 96.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on QTWO shares. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Q2 in a report on Friday, March 1st. SunTrust Banks upgraded Q2 from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $84.00 in a report on Friday, March 1st. Craig Hallum reiterated a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Q2 in a report on Thursday, May 9th. Stephens downgraded Q2 from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $76.00 to $73.00 in a report on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.04.
NYSE QTWO opened at $73.52 on Friday. The company has a market cap of $3.25 billion, a PE ratio of -198.70 and a beta of 1.53. Q2 Holdings Inc has a 52 week low of $43.41 and a 52 week high of $76.08. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.40.
Q2 (NYSE:QTWO) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.21). The firm had revenue of $71.30 million for the quarter, compared to the consensus estimate of $70.67 million. Q2 had a negative net margin of 18.89% and a negative return on equity of 16.48%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. On average, equities analysts anticipate that Q2 Holdings Inc will post -0.64 earnings per share for the current fiscal year.
In related news, CEO Matthew P. Flake sold 14,650 shares of Q2 stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $64.96, for a total transaction of $951,664.00. Following the transaction, the chief executive officer now owns 221,406 shares of the company’s stock, valued at $14,382,533.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Adam D. Blue sold 5,025 shares of Q2 stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $64.98, for a total value of $326,524.50. Following the transaction, the chief technology officer now directly owns 60,823 shares in the company, valued at approximately $3,952,278.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 759,572 shares of company stock worth $52,231,221. 17.90% of the stock is owned by insiders.
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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