TimesSquare Capital Management LLC trimmed its holdings in shares of Q2 Holdings Inc (NYSE:QTWO) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,612,637 shares of the technology company’s stock after selling 110,070 shares during the period. Q2 accounts for about 0.9% of TimesSquare Capital Management LLC’s holdings, making the stock its 24th biggest holding. TimesSquare Capital Management LLC owned approximately 3.65% of Q2 worth $123,141,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in QTWO. Artisan Partners Limited Partnership raised its stake in shares of Q2 by 0.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,721,082 shares of the technology company’s stock valued at $119,202,000 after purchasing an additional 13,407 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Q2 by 1.4% during the first quarter. Champlain Investment Partners LLC now owns 1,270,670 shares of the technology company’s stock worth $88,007,000 after acquiring an additional 17,400 shares during the period. Wasatch Advisors Inc. raised its stake in Q2 by 39.2% during the first quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock worth $72,247,000 after acquiring an additional 293,892 shares during the period. Stephens Investment Management Group LLC raised its stake in Q2 by 0.6% during the second quarter. Stephens Investment Management Group LLC now owns 734,848 shares of the technology company’s stock worth $56,113,000 after acquiring an additional 4,633 shares during the period. Finally, Norges Bank acquired a new stake in Q2 during the fourth quarter worth about $25,818,000. 99.30% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on QTWO shares. Compass Point started coverage on shares of Q2 in a research note on Tuesday. They set a “buy” rating and a $105.00 price objective on the stock. SunTrust Banks increased their price objective on shares of Q2 from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. BTIG Research reiterated a “hold” rating on shares of Q2 in a research note on Sunday, August 11th. Craig Hallum restated a “buy” rating and issued a $85.00 price target (up previously from $80.00) on shares of Q2 in a research note on Thursday, May 9th. Finally, Royal Bank of Canada raised their price target on shares of Q2 from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $79.75.
Shares of Q2 stock traded up $1.65 on Friday, hitting $92.36. The company had a trading volume of 8,486 shares, compared to its average volume of 439,380. The business has a 50-day simple moving average of $80.08 and a 200-day simple moving average of $72.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.72 and a quick ratio of 2.08. The company has a market cap of $4.27 billion, a PE ratio of -247.57 and a beta of 1.38. Q2 Holdings Inc has a 52 week low of $43.41 and a 52 week high of $91.09.
Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. The business had revenue of $77.60 million during the quarter, compared to analysts’ expectations of $76.10 million. Q2 had a negative net margin of 20.73% and a negative return on equity of 13.40%. The business’s revenue was up 32.0% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. On average, equities research analysts predict that Q2 Holdings Inc will post -0.65 earnings per share for the current fiscal year.
Q2 Company Profile
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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