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

Pembroke Management LTD increased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 77.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 214,638 shares of the technology company’s stock after acquiring an additional 93,582 shares during the period. Q2 comprises 2.2% of Pembroke Management LTD’s holdings, making the stock its 20th largest position. Pembroke Management LTD’s holdings in Q2 were worth $17,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in shares of Q2 by 45.2% during the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Jennison Associates LLC raised its stake in Q2 by 14.6% during the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after buying an additional 235,582 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Q2 by 67.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after acquiring an additional 22,400 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Q2 in the third quarter worth $80,788,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Q2 during the first quarter valued at $1,055,000.

Q2 Trading Up 0.5 %

Q2 stock opened at $85.09 on Friday. The business has a 50-day simple moving average of $78.47 and a two-hundred day simple moving average of $68.07. Q2 Holdings, Inc. has a 52-week low of $30.89 and a 52-week high of $86.25. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. 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 released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. Analysts predict that Q2 Holdings, Inc. will post -0.02 EPS for the current year.

Insider Transactions at Q2

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the transaction, the director now owns 397,702 shares of the company’s stock, valued at $29,927,075.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the transaction, the executive vice president now owns 215,079 shares in the company, valued at approximately $15,408,259.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,963 shares of company stock worth $3,109,699 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on QTWO shares. The Goldman Sachs Group increased their price objective on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $78.00 price objective (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. BTIG Research increased their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. DA Davidson restated a “neutral” rating and issued a $76.00 price target on shares of Q2 in a research note on Monday, September 30th. Finally, Stifel Nicolaus increased their price objective on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $73.64.

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.