King Luther Capital Management Corp Purchases 5,937 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

King Luther Capital Management Corp lifted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,096 shares of the technology company’s stock after acquiring an additional 5,937 shares during the quarter. King Luther Capital Management Corp owned 0.23% of Q2 worth $8,452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the period. Fidelis Capital Partners LLC purchased a new position in Q2 in the first quarter valued at about $50,000. Quest Partners LLC bought a new position in Q2 in the second quarter worth about $153,000. SG Americas Securities LLC purchased a new stake in shares of Q2 during the first quarter valued at about $173,000. Finally, nVerses Capital LLC bought a new stake in shares of Q2 in the 2nd quarter valued at about $181,000.

Wall Street Analysts Forecast Growth

QTWO has been the subject of a number of analyst reports. Compass Point began coverage on shares of Q2 in a research report on Wednesday, September 4th. They set a “buy” rating and a $91.00 target price for the company. DA Davidson cut Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $65.00 to $76.00 in a research report on Wednesday, July 24th. BTIG Research upped their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. The Goldman Sachs Group increased their price target on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and set a $78.00 price objective (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.38.

Q2 Stock Performance

Shares of QTWO stock opened at $81.48 on Friday. The stock has a market cap of $4.91 billion, a PE ratio of -60.36 and a beta of 1.58. Q2 Holdings, Inc. has a 52-week low of $28.91 and a 52-week high of $82.72. The business has a 50-day simple moving average of $71.17 and a 200-day simple moving average of $61.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. On average, equities analysts expect that Q2 Holdings, Inc. will post -0.01 EPS for the current year.

Insider Activity at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Price sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total value of $660,000.00. Following the transaction, the executive vice president now directly owns 226,079 shares of the company’s stock, valued at $13,564,740. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,916 shares of company stock worth $3,896,644. 3.60% of the stock is owned by company insiders.

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.