Hood River Capital Management LLC Raises Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Hood River Capital Management LLC raised its position in Q2 Holdings, Inc. (NYSE:QTWO) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,261,924 shares of the technology company’s stock after acquiring an additional 67,757 shares during the period. Q2 makes up approximately 1.6% of Hood River Capital Management LLC’s holdings, making the stock its 15th biggest holding. Hood River Capital Management LLC owned 2.09% of Q2 worth $76,132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC boosted its position in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after purchasing an additional 169 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Q2 during the first quarter worth about $50,000. Quest Partners LLC acquired a new position in shares of Q2 during the second quarter valued at about $153,000. nVerses Capital LLC acquired a new position in shares of Q2 during the second quarter valued at about $181,000. Finally, SG Americas Securities LLC purchased a new position in shares of Q2 in the 1st quarter valued at approximately $173,000.

Insider Buying and Selling at Q2

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey T. Diehl sold 28,005 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,916 shares of company stock worth $3,896,644. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on QTWO shares. Royal Bank of Canada boosted their target price on shares of Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Compass Point initiated coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price on the stock. DA Davidson cut Q2 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $65.00 to $76.00 in a research report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and issued a $78.00 price objective (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.38.

Q2 Stock Up 2.3 %

Shares of QTWO opened at $81.55 on Monday. The stock has a 50 day moving average price of $71.17 and a 200 day moving average price of $61.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -60.41 and a beta of 1.58. Q2 Holdings, Inc. has a one year low of $28.91 and a one year high of $82.72.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $172.89 million during the quarter, compared to analyst estimates of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. Equities research analysts forecast that Q2 Holdings, Inc. will post -0.01 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.