Arrowstreet Capital Limited Partnership Purchases 655,838 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Arrowstreet Capital Limited Partnership boosted its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 732.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 745,404 shares of the technology company's stock after acquiring an additional 655,838 shares during the period. Arrowstreet Capital Limited Partnership owned 1.23% of Q2 worth $75,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. William Blair Investment Management LLC bought a new position in shares of Q2 in the fourth quarter worth $202,645,000. Norges Bank bought a new position in Q2 in the fourth quarter valued at approximately $21,643,000. Raymond James Financial Inc. acquired a new position in Q2 during the fourth quarter valued at approximately $18,271,000. Rockefeller Capital Management L.P. bought a new stake in Q2 during the third quarter worth $9,847,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in Q2 during the fourth quarter worth $11,681,000.

Q2 Price Performance

QTWO stock traded down $5.71 during midday trading on Friday, reaching $69.88. The company had a trading volume of 645,162 shares, compared to its average volume of 643,282. The firm has a 50-day moving average price of $85.67 and a 200-day moving average price of $90.73. The company has a market capitalization of $4.24 billion, a P/E ratio of -107.60 and a beta of 1.62. Q2 Holdings, Inc. has a 1 year low of $49.56 and a 1 year 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.

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Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 0.85% and a negative net margin of 5.53%. On average, research analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The sale 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 Q2 stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now owns 113,278 shares of the company's stock, valued at $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock valued at $14,853,965 over the last three months. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on QTWO. Stephens reiterated an "overweight" rating and issued a $115.00 target price on shares of Q2 in a research report 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. KeyCorp upgraded shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price objective for the company in a report on Wednesday, December 18th. Stifel Nicolaus raised their price target on shares of Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Truist Financial reiterated a "buy" rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Q2 has an average rating of "Moderate Buy" and an average price target of $105.47.

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.