Geode Capital Management LLC Has $140.18 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Geode Capital Management LLC lifted its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,389,181 shares of the technology company's stock after buying an additional 36,025 shares during the period. Geode Capital Management LLC owned about 2.30% of Q2 worth $140,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Q2 by 893.5% during the fourth quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock valued at $47,459,000 after acquiring an additional 424,062 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Q2 by 38.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,169 shares of the technology company's stock worth $722,000 after purchasing an additional 1,982 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock valued at $75,025,000 after purchasing an additional 655,838 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Q2 by 25.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,820 shares of the technology company's stock valued at $888,000 after buying an additional 1,789 shares in the last quarter. Finally, Norges Bank bought a new stake in Q2 during the fourth quarter worth about $21,643,000.

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Insider Buying and Selling

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. The trade was a 5.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 36,023 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total value of $2,894,448.05. Following the completion of the transaction, the chief executive officer now owns 485,666 shares of the company's stock, valued at $39,023,263.10. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock worth $14,853,965 in the last three months. 3.00% of the stock is owned by corporate insiders.

Q2 Price Performance

Shares of QTWO stock traded up $2.11 during trading hours on Friday, reaching $74.79. The company's stock had a trading volume of 783,952 shares, compared to its average volume of 650,594. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a fifty-two week low of $49.56 and a fifty-two week high of $112.82. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -115.06 and a beta of 1.61. The firm's 50 day simple moving average is $81.95 and its 200-day simple moving average is $90.40.

Q2 (NYSE:QTWO - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Sell-side analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Citigroup boosted their price objective on Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their target price on Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Baird R W downgraded Q2 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Finally, Raymond James raised their price target on Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Q2 currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.33.

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.