Summit Creek Advisors LLC Decreases Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Summit Creek Advisors LLC lessened its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,154 shares of the technology company's stock after selling 37,349 shares during the period. Q2 comprises about 2.6% of Summit Creek Advisors LLC's portfolio, making the stock its 15th largest holding. Summit Creek Advisors LLC owned 0.33% of Q2 worth $19,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QTWO. Natixis Advisors LLC lifted its stake in shares of Q2 by 4.5% during the 3rd quarter. Natixis Advisors LLC now owns 17,435 shares of the technology company's stock worth $1,391,000 after buying an additional 744 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Q2 by 1.0% during the third quarter. Swiss National Bank now owns 117,400 shares of the technology company's stock worth $9,365,000 after acquiring an additional 1,200 shares during the period. Pathstone Holdings LLC grew its position in shares of Q2 by 7.0% in the third quarter. Pathstone Holdings LLC now owns 31,191 shares of the technology company's stock valued at $2,488,000 after purchasing an additional 2,035 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Q2 during the third quarter worth approximately $1,227,000. Finally, Penserra Capital Management LLC boosted its stake in Q2 by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 73,459 shares of the technology company's stock valued at $5,859,000 after purchasing an additional 876 shares during the period.

Remove Ads

Q2 Stock Performance

Shares of Q2 stock traded up $1.50 on Tuesday, reaching $84.32. 786,355 shares of the company traded hands, compared to its average volume of 615,499. The company has a 50 day moving average of $87.69 and a 200 day moving average of $90.49. 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 Holdings, Inc. has a 52 week low of $46.50 and a 52 week high of $112.82. The firm has a market capitalization of $5.12 billion, a PE ratio of -129.72 and a beta of 1.62.

Q2 (NYSE:QTWO - Get Free Report) last announced 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 negative net margin of 5.53% and a positive return on equity of 0.85%. Equities analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

QTWO has been the topic of several recent research reports. Raymond James raised their target price on shares of Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Robert W. Baird reissued a "neutral" rating and issued a $99.00 target price (up previously from $89.00) on shares of Q2 in a report on Friday, January 10th. Citigroup lifted their price target on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Needham & Company LLC increased their price target on Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus upped their target price on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $105.27.

Insider Activity

In related news, CFO Jonathan Price sold 42,652 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total value of $3,172,029.24. Following the transaction, the chief financial officer now directly owns 209,378 shares in the company, valued at approximately $15,571,441.86. This represents a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now owns 113,278 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 157,835 shares of company stock worth $11,959,517. 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.