Legato Capital Management LLC Boosts Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Legato Capital Management LLC grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 40.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,935 shares of the technology company's stock after purchasing an additional 5,125 shares during the period. Legato Capital Management LLC's holdings in Q2 were worth $1,805,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QTWO. Venturi Wealth Management LLC grew its position in shares of Q2 by 139.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company's stock valued at $48,558,000 after purchasing an additional 354,524 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Q2 during the 3rd quarter valued at $9,847,000. Pembroke Management LTD grew its position in shares of Q2 by 77.3% during the 3rd quarter. Pembroke Management LTD now owns 214,638 shares of the technology company's stock valued at $17,122,000 after purchasing an additional 93,582 shares in the last quarter. Barclays PLC grew its position in Q2 by 104.0% in the third quarter. Barclays PLC now owns 163,138 shares of the technology company's stock worth $13,012,000 after acquiring an additional 83,181 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Q2 by 33.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 221,034 shares of the technology company's stock worth $17,632,000 after acquiring an additional 55,107 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley upped their target price on shares of Q2 from $65.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Truist Financial reiterated a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a research report on Thursday. Stifel Nicolaus upped their target price on shares of Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday. Stephens reiterated an "overweight" rating and issued a $115.00 target price on shares of Q2 in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.13.

Q2 Trading Down 1.7 %

Shares of NYSE:QTWO traded down $1.60 during midday trading on Friday, hitting $91.26. 787,677 shares of the stock traded hands, compared to its average volume of 594,098. The stock has a market capitalization of $5.51 billion, a PE ratio of -95.06 and a beta of 1.61. The business's 50 day moving average is $98.66 and its two-hundred day moving average is $88.12. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a one year low of $41.23 and a one year high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 8.40% and a negative return on equity of 2.30%. As a group, research analysts forecast that Q2 Holdings, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Q2

In related news, Director James Offerdahl sold 548 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the transaction, the director now owns 18,241 shares in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kirk L. Coleman sold 10,428 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the transaction, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,836 shares of company stock worth $3,061,035 over the last 90 days. 3.00% of the stock is owned by company insiders.

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.