Wasatch Advisors LP Boosts Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Wasatch Advisors LP increased its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 6.91% of Q2 worth $214,386,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QTWO. Deutsche Bank AG increased its position in shares of Q2 by 13.4% during the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after buying an additional 3,496 shares during the period. Rhumbline Advisers boosted its holdings in Q2 by 3.1% in the 3rd quarter. Rhumbline Advisers now owns 81,633 shares of the technology company’s stock valued at $2,634,000 after purchasing an additional 2,440 shares during the period. Hsbc Holdings PLC grew its position in shares of Q2 by 32.0% during the 3rd quarter. Hsbc Holdings PLC now owns 8,818 shares of the technology company’s stock valued at $284,000 after purchasing an additional 2,139 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Q2 by 4.9% in the third quarter. Natixis Advisors L.P. now owns 15,929 shares of the technology company’s stock worth $514,000 after purchasing an additional 748 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in Q2 by 90.1% during the third quarter. Gotham Asset Management LLC now owns 19,463 shares of the technology company’s stock valued at $628,000 after buying an additional 9,225 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QTWO. Needham & Company LLC raised their price target on Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target on shares of Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. 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 report on Friday, May 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $50.00 target price (up from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus raised their price target on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.53.

Insiders Place Their Bets

In other Q2 news, Director Jeffrey T. Diehl sold 27,248 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $62.51, for a total value of $1,703,272.48. Following the completion of the transaction, the director now owns 750,314 shares in the company, valued at $46,902,128.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey T. Diehl sold 27,248 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $62.51, for a total value of $1,703,272.48. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 34,434 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $61.63, for a total value of $2,122,167.42. Following the transaction, the director now directly owns 672,818 shares of the company’s stock, valued at approximately $41,465,773.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,684 shares of company stock worth $5,548,275. Company insiders own 3.60% of the company’s stock.

Q2 Trading Up 1.1 %

Shares of Q2 stock traded up $0.68 during midday trading on Tuesday, reaching $60.87. 280,757 shares of the company’s stock traded hands, compared to its average volume of 612,329. The stock has a 50 day moving average of $59.68 and a 200-day moving average of $50.94. Q2 Holdings, Inc. has a 12 month low of $28.91 and a 12 month high of $64.17. The company has a market cap of $3.66 billion, a PE ratio of -45.09 and a beta of 1.55. 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) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The business had revenue of $165.51 million during the quarter, compared to analyst estimates of $163.58 million. As a group, equities analysts expect that Q2 Holdings, Inc. will post -0.05 EPS for the current fiscal 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.