Proficio Capital Partners LLC Takes $29,000 Position in Q2 Holdings, Inc. (NYSE:QTWO)

Proficio Capital Partners LLC bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,390 shares of the technology company’s stock, valued at approximately $29,000.

Other hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new stake in Q2 in the third quarter worth approximately $9,847,000. Barclays PLC boosted its stake in shares of Q2 by 104.0% in the 3rd quarter. Barclays PLC now owns 163,138 shares of the technology company’s stock worth $13,012,000 after buying an additional 83,181 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Q2 by 33.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 221,034 shares of the technology company’s stock worth $17,632,000 after acquiring an additional 55,107 shares during the period. Principal Financial Group Inc. increased its position in Q2 by 38.6% during the third quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company’s stock valued at $14,095,000 after acquiring an additional 49,233 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after acquiring an additional 42,433 shares during the period.

Insiders Place Their Bets

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the completion of the sale, the insider now directly owns 113,278 shares of the company’s stock, valued at $8,396,165.36. The trade was a 5.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 15,005 shares of Q2 stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $1,112,170.60. Following the completion of the sale, the executive now owns 197,966 shares of the company’s stock, valued at $14,673,239.92. The trade was a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,835 shares of company stock valued at $11,959,517 over the last three months. 3.00% of the stock is owned by company insiders.

Q2 Stock Down 3.2 %

Shares of QTWO opened at $72.88 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -112.12 and a beta of 1.62. Q2 Holdings, Inc. has a 1 year low of $46.50 and a 1 year high of $112.82. The business’s 50 day simple moving average is $90.35 and its 200-day simple moving average is $90.03.

Q2 (NYSE:QTWO) 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 positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, equities analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective 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. Royal Bank of Canada lifted their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective for the company in a research report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Finally, Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.