Thoroughbred Financial Services LLC Acquires New Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Thoroughbred Financial Services LLC acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,373 shares of the technology company's stock, valued at approximately $540,000.

Several other large investors also recently bought and sold shares of QTWO. State Street Corp increased its position in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock worth $133,118,000 after purchasing an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock worth $2,451,000 after purchasing an additional 7,475 shares in the last quarter. Nordea Investment Management AB increased its holdings in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock valued at $11,208,000 after buying an additional 42,433 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Q2 during the fourth quarter valued at approximately $288,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Q2 by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock worth $51,036,000 after buying an additional 10,636 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Compass Point reaffirmed a "neutral" rating and issued a $60.00 price target on shares of Q2 in a report on Monday. 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. Truist Financial reissued a "buy" rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Raymond James upped their price objective on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC increased their target price on Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.33.

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Insiders Place Their Bets

In other news, CEO Matthew P. Flake sold 36,023 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total value of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares of the company's stock, valued at $39,023,263.10. This represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now owns 17,241 shares of the company's stock, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock valued at $14,853,965 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Q2 Trading Up 2.9 %

QTWO stock traded up $2.11 during midday trading on Friday, hitting $74.79. 783,952 shares of the company's stock were exchanged, compared to its average volume of 650,594. Q2 Holdings, Inc. has a one year low of $49.56 and a one year high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $4.54 billion, a PE ratio of -115.06 and a beta of 1.61. The stock's fifty day moving average price is $81.95 and its 200-day moving average price is $90.40.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) 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%. Research analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

About Q2

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.