Wellington Management Group LLP increased its position in Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,484 shares of the technology company’s stock after buying an additional 29,075 shares during the quarter. Wellington Management Group LLP owned 0.57% of Q2 worth $17,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Summit Creek Advisors LLC bought a new stake in shares of Q2 in the 2nd quarter valued at about $4,892,000. Bank of New York Mellon Corp purchased a new stake in shares of Q2 in the 2nd quarter worth about $19,639,000. Handelsbanken Fonder AB lifted its holdings in Q2 by 1.5% in the second quarter. Handelsbanken Fonder AB now owns 232,860 shares of the technology company’s stock worth $11,201,000 after buying an additional 3,544 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Q2 during the second quarter valued at approximately $61,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Q2 by 40.7% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,508 shares of the technology company’s stock valued at $217,000 after buying an additional 1,304 shares in the last quarter.
Analyst Ratings Changes
A number of analysts have recently commented on QTWO shares. Needham & Company LLC boosted their price target on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price target on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a report on Monday, August 31st. JPMorgan Chase & Co. raised their price target on Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, UBS Group set a $68.00 price target on Q2 in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.64.
Insider Activity at Q2
In other news, insider Kimberly Rutledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the sale, the insider directly owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer owned 207,633 shares in the company, valued at $13,643,564.43. The trade was a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.
Q2 Stock Down 0.1%
Shares of Q2 stock opened at $62.06 on Monday. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 44.33 and a beta of 1.33. The business has a 50-day moving average price of $58.96 and a 200-day moving average price of $51.78. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $85.19.
Q2 (NYSE:QTWO – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Q2 Holdings, Inc. will post 1.84 EPS for the current fiscal year.
Q2 Profile
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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