Comerica Bank Boosts Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Comerica Bank raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 4.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 172,251 shares of the technology company’s stock after acquiring an additional 7,299 shares during the period. Comerica Bank’s holdings in Q2 were worth $9,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of QTWO. Jacobs Levy Equity Management Inc. raised its holdings in Q2 by 13.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 25,329 shares of the technology company’s stock worth $1,331,000 after purchasing an additional 3,080 shares during the period. Price T Rowe Associates Inc. MD raised its position in Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after acquiring an additional 683,957 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Q2 during the 1st quarter worth about $62,765,000. Brown Capital Management LLC increased its stake in Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock worth $134,850,000 after buying an additional 11,000 shares in the last quarter. Finally, Natixis purchased a new position in shares of Q2 in the first quarter valued at approximately $336,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on QTWO shares. Needham & Company LLC increased their target price on shares of Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus upped their target price on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday. BTIG Research boosted their target price on shares of Q2 from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird lifted their price target on shares of Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average target price of $64.13.

Q2 Stock Down 4.5 %

Q2 stock traded down $3.14 during mid-day trading on Friday, hitting $66.91. The company had a trading volume of 255,469 shares, compared to its average volume of 612,462. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -51.83 and a beta of 1.54. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $75.94. The business has a fifty day moving average of $62.58 and a 200 day moving average of $54.40.

Q2 (NYSE:QTWO) last released 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. Q2 had a negative net margin of 10.40% and a negative return on equity of 4.02%. The company had revenue of $165.51 million during the quarter, compared to the consensus estimate of $163.58 million. On average, sell-side analysts expect that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Activity at Q2

In other news, Director Jeffrey T. Diehl sold 27,248 shares of Q2 stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total value of $1,703,272.48. Following the transaction, the director now directly owns 750,314 shares of the company’s stock, valued at approximately $46,902,128.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director R. H. Seale sold 598 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $36,633.48. Following the completion of the sale, the director now owns 420,171 shares in the company, valued at approximately $25,739,675.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 27,248 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total transaction of $1,703,272.48. Following the completion of the sale, the director now owns 750,314 shares of the company’s stock, valued at approximately $46,902,128.14. The disclosure for this sale can be found here. Insiders sold a total of 84,637 shares of company stock valued at $5,224,320 in the last three months. 3.60% of the stock is currently owned by company insiders.

Q2 Company Profile

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.