Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,033 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,340 shares of the technology company's stock after purchasing an additional 4,033 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Q2 were worth $1,745,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in Q2 during the 4th quarter valued at $29,000. Quarry LP increased its position in Q2 by 988.2% during the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock valued at $30,000 after purchasing an additional 336 shares during the period. SBI Securities Co. Ltd. purchased a new position in Q2 during the 4th quarter valued at $30,000. Ameliora Wealth Management Ltd. bought a new stake in shares of Q2 during the 4th quarter valued at $32,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of Q2 during the 4th quarter valued at $179,000.

Insider Buying and Selling

In related news, CFO Jonathan Price sold 42,652 shares of the 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 completion of the sale, the chief financial officer now directly owns 209,378 shares of the company's stock, valued at approximately $15,571,441.86. This represents a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the company'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 value of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares of the company's stock, valued at $1,516,518.36. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,835 shares of company stock valued at $11,959,517. 3.00% of the stock is owned by corporate insiders.

Remove Ads

Q2 Stock Performance

Shares of NYSE QTWO traded up $0.49 during midday trading on Friday, hitting $79.10. 847,598 shares of the company's stock traded hands, compared to its average volume of 615,683. Q2 Holdings, Inc. has a 1 year low of $46.50 and a 1 year high of $112.82. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -121.69 and a beta of 1.62. 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 firm has a fifty day moving average of $88.04 and a 200 day moving average of $90.14.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on QTWO shares. Citigroup boosted their target price 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 upped their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Stephens reiterated an "overweight" rating and issued a $115.00 price target on shares of Q2 in a research note on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $99.00 price target (up previously from $89.00) on shares of Q2 in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Q2 presently has an average rating of "Moderate Buy" and an average price target of $105.27.

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.