Summit Global Investments Invests $971,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Summit Global Investments purchased a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,647 shares of the technology company's stock, valued at approximately $971,000.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC bought a new position in Q2 in the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Q2 in the fourth quarter valued at about $30,000. Ameliora Wealth Management Ltd. bought a new position in shares of Q2 in the fourth quarter worth about $32,000. Quarry LP lifted its position in shares of Q2 by 988.2% during the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock worth $30,000 after purchasing an additional 336 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Q2 during the 4th quarter valued at approximately $137,000.

Wall Street Analyst Weigh In

QTWO has been the subject of a number of research analyst reports. Citigroup upped their price target on Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. KeyCorp upgraded shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada increased their target price on shares of Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Needham & Company LLC upped their price target on Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Raymond James lifted their price objective on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Q2 presently has a consensus rating of "Moderate Buy" and an average target price of $105.27.

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Insider Buying and Selling at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 453,849 shares of the company's stock, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,835 shares of company stock worth $11,959,517. 3.00% of the stock is currently owned by insiders.

Q2 Price Performance

Shares of Q2 stock traded up $1.64 during mid-day trading on Tuesday, reaching $84.46. 421,820 shares of the stock were exchanged, compared to its average volume of 615,116. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -129.93 and a beta of 1.62. Q2 Holdings, Inc. has a fifty-two week low of $46.50 and a fifty-two week high of $112.82. 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 50-day simple moving average of $87.69 and a 200 day simple moving average of $90.49.

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 for the quarter, missing the consensus estimate 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, sell-side analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.