Summit Creek Advisors LLC lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 30.2% in the 3rd quarter, Holdings Channel reports. The firm owned 70,998 shares of the technology company’s stock after selling 30,703 shares during the period. Summit Creek Advisors LLC’s holdings in Q2 were worth $3,936,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP lifted its position in shares of Q2 by 48.1% in the second quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock valued at $54,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Q2 by 45.2% in the second quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock worth $76,000 after acquiring an additional 489 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Q2 by 42.6% during the first quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock worth $78,000 after purchasing an additional 495 shares in the last quarter. Swiss National Bank increased its position in shares of Q2 by 0.5% during the first quarter. Swiss National Bank now owns 123,700 shares of the technology company’s stock worth $5,851,000 after purchasing an additional 600 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in Q2 by 1,578.9% in the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after purchasing an additional 600 shares during the last quarter.
Q2 Stock Performance
Shares of QTWO opened at $73.66 on Friday. The stock has a market capitalization of $4.55 billion, a PE ratio of 43.59 and a beta of 1.36. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $76.37. The company’s 50-day simple moving average is $62.29 and its 200-day simple moving average is $54.91.
Q2 (NYSE:QTWO – Get Free Report) last released its earnings results on Wednesday, October 28th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $225.77 million for the quarter, compared to analyst estimates of $221.23 million. Q2 had a net margin of 12.66% and a return on equity of 17.85%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, sell-side analysts predict that Q2 Holdings, Inc. will post 1.88 earnings per share for the current year.
Insider Activity at Q2
In other Q2 news, General Counsel Michael S. Kerr sold 636 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $60.96, for a total transaction of $38,770.56. Following the transaction, the general counsel directly owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kimberly Rutledge sold 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the transaction, the insider directly owned 113,913 shares in the company, valued at $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 87,816 shares of company stock worth $5,740,968 in the last 90 days. 0.88% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on QTWO. Zacks Research lowered Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Royal Bank Of Canada upped their target price on shares of Q2 from $73.00 to $75.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Needham & Company LLC upped their target price on shares of Q2 from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Stephens assumed coverage on shares of Q2 in a research report on Thursday, October 15th. They issued an “overweight” rating and a $74.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Q2 from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.33.
Read Our Latest Stock Analysis on QTWO
Q2 Company Profile
Q2 Holdings, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help these organizations deliver digital banking experiences, manage customer relationships and expand access to financial services through online and mobile channels.
The company’s products and services include digital banking, account opening, lending and loan origination, payments, data and analytics, financial crime prevention, and tools for managing customer engagement.
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