623,057 Shares in Q2 Holdings, Inc. $QTWO Acquired by Norges Bank

Norges Bank bought a new stake in Q2 Holdings, Inc. (NYSE:QTWO – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 623,057 shares of the technology company’s stock, valued at approximately $44,960,000.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Q2 in the second quarter valued at $26,000. Measured Wealth Private Client Group LLC purchased a new position in Q2 in the third quarter valued at $26,000. Quarry LP increased its holdings in Q2 by 92.5% in the third quarter. Quarry LP now owns 697 shares of the technology company’s stock valued at $50,000 after buying an additional 335 shares during the last quarter. Danske Bank A S purchased a new position in Q2 in the third quarter valued at $51,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after buying an additional 539 shares during the last quarter.

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Q2 Trading Down 1.9%

Shares of QTWO opened at $44.83 on Tuesday. The firm has a market cap of $2.81 billion, a PE ratio of 40.03 and a beta of 1.34. The company’s 50 day simple moving average is $48.06 and its 200-day simple moving average is $57.46. Q2 Holdings, Inc. has a 12-month low of $44.46 and a 12-month high of $96.68.

Q2 (NYSE:QTWO – Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The business had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. As a group, equities research analysts forecast that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In related news, insider Kimberly Anne Rutledge sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $50.37, for a total transaction of $160,529.19. Following the transaction, the insider owned 80,551 shares of the company’s stock, valued at $4,057,353.87. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. Truist Financial dropped their price target on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada dropped their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.27.

Check Out Our Latest Stock Analysis on QTWO

Q2 Profile

(Free Report)

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.

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