King Luther Capital Management Corp trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,175 shares of the technology company's stock after selling 25,525 shares during the quarter. King Luther Capital Management Corp owned approximately 0.19% of Q2 worth $11,592,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Q2 in the 4th quarter valued at approximately $30,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Q2 in the fourth quarter worth $32,000. Quarry LP grew its holdings in shares of Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company's stock valued at $30,000 after buying an additional 336 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Q2 during the fourth quarter valued at $179,000. Finally, Heck Capital Advisors LLC purchased a new stake in Q2 in the 4th quarter worth about $191,000.
Analyst Ratings Changes
A number of brokerages have recently weighed in on QTWO. Royal Bank of Canada upped their target price on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. 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 report on Thursday, February 13th. Robert W. Baird reiterated a "neutral" rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Baird R W cut Q2 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Raymond James increased their price objective on Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.27.
Read Our Latest Research Report on Q2
Insider Activity at Q2
In other Q2 news, CEO Matthew P. Flake sold 56,799 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.12, for a total transaction of $543,652.76. Following the sale, the executive now directly owns 218,371 shares of the company's stock, valued at $23,173,530.52. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,350 shares of company stock worth $6,187,586 over the last 90 days. Insiders own 3.00% of the company's stock.
Q2 Stock Performance
NYSE:QTWO opened at $73.97 on Wednesday. Q2 Holdings, Inc. has a 52-week low of $46.50 and a 52-week high of $112.82. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -113.80 and a beta of 1.62. The firm's 50-day moving average is $91.39 and its 200-day moving average is $90.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40.
Q2 (NYSE:QTWO - Get Free Report) last announced its earnings results 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%. Equities research analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.
Q2 Profile
(
Free Report)
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.
Further Reading
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