Rockefeller Capital Management L.P. Acquires 257,652 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Rockefeller Capital Management L.P. grew its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 208.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,094 shares of the technology company's stock after acquiring an additional 257,652 shares during the period. Rockefeller Capital Management L.P. owned 0.63% of Q2 worth $38,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. William Blair Investment Management LLC bought a new stake in Q2 during the 4th quarter worth about $202,645,000. Massachusetts Financial Services Co. MA grew its position in shares of Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock worth $135,449,000 after buying an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Q2 by 732.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after buying an additional 655,838 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Q2 by 893.5% in the fourth quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock valued at $47,459,000 after buying an additional 424,062 shares during the period. Finally, Norges Bank bought a new position in Q2 in the fourth quarter valued at approximately $21,643,000.

Q2 Stock Up 1.8 %

Shares of QTWO stock traded up $1.38 on Tuesday, hitting $76.82. 497,880 shares of the stock were exchanged, compared to its average volume of 651,178. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4.66 billion, a P/E ratio of -118.18 and a beta of 1.61. Q2 Holdings, Inc. has a fifty-two week low of $49.56 and a fifty-two week high of $112.82. The business has a 50-day moving average of $81.21 and a 200 day moving average of $90.37.

Remove Ads

Q2 (NYSE:QTWO - Get Free Report) last released 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%. Equities analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling at Q2

In related news, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction that occurred on Thursday, March 6th. The stock was 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 of the company's stock, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,858 shares of company stock worth $14,853,965. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

QTWO has been the subject of several recent research reports. Stephens reiterated an "overweight" rating and set a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. KeyCorp raised Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price on the stock in a research note on Wednesday, December 18th. Stifel Nicolaus boosted their target price on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their price target on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.33.

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.