Accel Wealth Management Acquires Shares of 4,185 Q2 Holdings, Inc. (NYSE:QTWO)

Accel Wealth Management bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,185 shares of the technology company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Norges Bank purchased a new position in shares of Q2 during the fourth quarter valued at approximately $20,470,000. Victory Capital Management Inc. lifted its stake in Q2 by 855.4% in the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares during the period. Wasatch Advisors LP boosted its holdings in Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after acquiring an additional 398,871 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Q2 by 32.0% in the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after purchasing an additional 391,539 shares in the last quarter.

Q2 Trading Up 1.1 %

QTWO stock opened at $61.52 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. Q2 Holdings, Inc. has a 1-year low of $28.91 and a 1-year high of $64.17. The business has a fifty day moving average price of $60.01 and a 200-day moving average price of $51.09.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $165.51 million during the quarter, compared to analyst estimates of $163.58 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. On average, equities research analysts anticipate that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QTWO. The Goldman Sachs Group lifted their target price on shares of Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada increased their target price on Q2 from $46.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Piper Sandler raised their target price on Q2 from $47.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Stifel Nicolaus increased their price objective on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, BTIG Research raised their price objective on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average target price of $55.53.

Insider Activity at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,166 shares of Q2 stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $71,429.16. Following the completion of the sale, the executive now owns 239,476 shares of the company’s stock, valued at approximately $14,670,299.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CRO Michael A. Volanoski sold 1,166 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $71,429.16. Following the transaction, the executive now owns 239,476 shares in the company, valued at approximately $14,670,299.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kirk L. Coleman sold 3,537 shares of Q2 stock in a transaction on Monday, June 10th. The stock was sold at an average price of $61.26, for a total transaction of $216,676.62. Following the transaction, the president now owns 352,177 shares in the company, valued at approximately $21,574,363.02. The disclosure for this sale can be found here. Insiders have sold a total of 91,684 shares of company stock worth $5,548,275 over the last quarter. Company insiders own 3.60% of the company’s stock.

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.