Wasatch Advisors LP Raises Position in Q2 Holdings, Inc. (NYSE:QTWO)

Wasatch Advisors LP raised its position in Q2 Holdings, Inc. (NYSE:QTWO) by 10.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,078,877 shares of the technology company’s stock after buying an additional 398,871 shares during the period. Wasatch Advisors LP owned about 0.07% of Q2 worth $214,386,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Diversified Trust Co grew its holdings in shares of Q2 by 6.5% during the first quarter. Diversified Trust Co now owns 14,556 shares of the technology company’s stock worth $765,000 after buying an additional 886 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Q2 by 4.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after purchasing an additional 304 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Q2 by 35.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 18,558 shares of the technology company’s stock worth $975,000 after purchasing an additional 4,905 shares during the last quarter. Seven Eight Capital LP raised its stake in shares of Q2 by 79.6% in the 4th quarter. Seven Eight Capital LP now owns 18,823 shares of the technology company’s stock valued at $817,000 after acquiring an additional 8,344 shares during the period. Finally, PEAK6 Investments LLC raised its position in Q2 by 68.8% in the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock valued at $3,004,000 after purchasing an additional 28,215 shares during the period.

Insider Buying and Selling at Q2

In related news, Director R. H. Seale sold 9,000 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the transaction, the director now directly owns 363,754 shares in the company, valued at $18,224,075.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Michael A. Volanoski sold 1,166 shares of Q2 stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $71,429.16. Following the transaction, the executive now directly owns 239,476 shares of the company’s stock, valued at approximately $14,670,299.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. In the last three months, insiders sold 91,684 shares of company stock worth $5,548,275. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Q2 from $47.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their price objective on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group raised their price target on Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird increased their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, BTIG Research lifted their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.53.

Q2 Price Performance

NYSE QTWO traded up $0.68 during trading hours on Tuesday, reaching $60.87. The company’s stock had a trading volume of 280,757 shares, compared to its average volume of 612,329. The company’s 50-day moving average is $59.68 and its two-hundred day moving average is $50.94. The stock has a market cap of $3.66 billion, a PE ratio of -45.09 and a beta of 1.55. Q2 Holdings, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $64.17. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $165.51 million for the quarter, compared to the consensus estimate of $163.58 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Analysts forecast that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.