Pembroke Management LTD Acquires 93,582 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Pembroke Management LTD lifted its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 77.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,638 shares of the technology company’s stock after acquiring an additional 93,582 shares during the period. Q2 makes up about 2.2% of Pembroke Management LTD’s holdings, making the stock its 20th largest holding. Pembroke Management LTD owned 0.36% of Q2 worth $17,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new position in Q2 in the 1st quarter valued at $62,765,000. American Century Companies Inc. boosted its stake in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares during the period. Perpetual Ltd purchased a new position in Q2 during the third quarter worth about $80,788,000. Price T Rowe Associates Inc. MD increased its stake in Q2 by 1,910.0% in the 1st 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 last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Q2 in the 1st quarter valued at about $19,101,000.

Insider Transactions at Q2

In related news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Q2 news, Director James Offerdahl sold 1,013 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the sale, the director now owns 18,789 shares in the company, valued at approximately $1,389,822.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,963 shares of company stock worth $3,109,699. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QTWO. Citigroup lowered Q2 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Royal Bank of Canada reissued a “sector perform” rating on shares of Q2 in a research note on Friday, October 18th. Compass Point began coverage on shares of Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.64.

Q2 Stock Up 0.5 %

QTWO opened at $85.09 on Friday. Q2 Holdings, Inc. has a 12 month low of $30.89 and a 12 month high of $86.25. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $78.47 and its 200-day moving average price is $68.07. The company has a market cap of $5.13 billion, a P/E ratio of -73.35 and a beta of 1.58.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The company had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. On average, equities analysts expect that Q2 Holdings, Inc. will post -0.02 EPS for the current year.

Q2 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.