Harvest Fund Management Co. Ltd Buys 10,507 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Harvest Fund Management Co. Ltd grew its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 343.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,563 shares of the technology company's stock after acquiring an additional 10,507 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Q2 were worth $1,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock valued at $133,118,000 after purchasing an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Q2 by 32.2% during the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock worth $2,451,000 after acquiring an additional 7,475 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Q2 by 61.8% in the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock worth $11,208,000 after acquiring an additional 42,433 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Q2 in the 3rd quarter valued at $1,227,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Q2 during the 4th quarter valued at $288,000.

Insider Transactions at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares of the company's stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock valued at $11,959,517 in the last quarter. 3.00% of the stock is owned by insiders.

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Q2 Stock Up 4.6 %

QTWO traded up $3.68 during midday trading on Monday, reaching $82.89. The company's stock had a trading volume of 742,842 shares, compared to its average volume of 615,140. Q2 Holdings, Inc. has a 1 year low of $46.50 and a 1 year high of $112.82. The stock's 50-day moving average is $87.85 and its 200-day moving average is $90.42. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -127.52 and a beta of 1.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp upgraded shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target for the company in a research report on Wednesday, December 18th. Raymond James lifted their price target on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Baird R W cut shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Royal Bank of Canada upped their price target on shares of Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their price target on shares of Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.27.

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.