The Manufacturers Life Insurance Company grew its holdings in Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 698,693 shares of the technology company’s stock after acquiring an additional 50,473 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Q2 were worth $33,048,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC bought a new stake in Q2 in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Q2 during the second quarter worth approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Q2 in the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $27,000. Finally, Quarry LP boosted its stake in shares of 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 period.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on QTWO shares. DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of Q2 in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a research report on Friday, July 17th. Needham & Company LLC increased their target price on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird set a $74.00 target price on Q2 in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on Q2 from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.00.
Q2 Stock Up 3.3%
Shares of QTWO stock opened at $61.00 on Friday. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $90.08. The stock’s fifty day simple moving average is $49.57 and its 200 day simple moving average is $51.50. The firm has a market capitalization of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.33.
Q2 (NYSE:QTWO – Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The firm had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. During the same period last year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 1.73 EPS for the current fiscal year.
About Q2
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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