Proficio Capital Partners LLC Invests $29,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Proficio Capital Partners LLC purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,390 shares of the technology company's stock, valued at approximately $29,000.

A number of other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock valued at $2,451,000 after purchasing an additional 7,475 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Q2 by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,307 shares of the technology company's stock valued at $1,061,000 after buying an additional 1,584 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Q2 in the third quarter worth $9,847,000. Captrust Financial Advisors grew its stake in shares of Q2 by 20.1% in the third quarter. Captrust Financial Advisors now owns 4,892 shares of the technology company's stock worth $390,000 after acquiring an additional 820 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Q2 by 99.2% during the third quarter. Edgestream Partners L.P. now owns 76,361 shares of the technology company's stock worth $6,091,000 after acquiring an additional 38,021 shares during the period.

Q2 Stock Performance

Shares of QTWO stock traded up $0.78 during trading hours on Wednesday, hitting $82.25. The stock had a trading volume of 737,816 shares, compared to its average volume of 642,030. The stock's 50 day moving average is $86.05 and its 200 day moving average is $90.84. The firm has a market capitalization of $4.99 billion, a PE ratio of -126.54 and a beta of 1.62. Q2 Holdings, Inc. has a twelve month low of $49.56 and a twelve month high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates 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 forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on QTWO. Stephens reissued an "overweight" rating and set a $115.00 target price on shares of Q2 in a research note on Thursday, February 13th. Truist Financial reaffirmed a "buy" rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a report 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. Needham & Company LLC increased their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.47.

Insider Activity at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at approximately $35,527,299.72. The trade was a 11.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock worth $14,853,965 in the last quarter. Company insiders own 3.00% of the company's stock.

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.