Algert Global LLC Invests $359,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Algert Global LLC purchased a new stake in Q2 Holdings, Inc. (NYSE:QTWO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,952 shares of the technology company’s stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new stake in shares of Q2 in the first quarter valued at about $62,765,000. American Century Companies Inc. raised its stake in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after purchasing an additional 1,190,274 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after purchasing an additional 683,957 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after purchasing an additional 398,871 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Q2 during the 1st quarter worth approximately $19,101,000.

Insider Buying and Selling

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated 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 transaction, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Kimberly Anne Rutledge sold 1,953 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the sale, the insider now directly owns 115,436 shares in the company, valued at $7,503,340. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction 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 transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,916 shares of company stock worth $3,236,644 in the last 90 days. Insiders own 3.60% of the company’s stock.

Q2 Trading Up 1.7 %

QTWO opened at $80.49 on Wednesday. The company has a market cap of $4.84 billion, a P/E ratio of -59.62 and a beta of 1.59. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The company’s 50 day moving average is $73.80 and its 200-day moving average is $64.25. Q2 Holdings, Inc. has a 1-year low of $28.91 and a 1-year high of $82.72.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company 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 predict that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BTIG Research lifted their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada lifted their price objective on Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. DA Davidson reissued a “neutral” rating and set a $76.00 target price on shares of Q2 in a report on Monday, September 30th. The Goldman Sachs Group boosted 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, Compass Point initiated coverage on shares of Q2 in a research note on Wednesday, September 4th. They set a “buy” rating and a $91.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $72.38.

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.