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

Proficio Capital Partners LLC purchased a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,390 shares of the technology company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QTWO. Quarry LP increased its holdings in shares of Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Q2 in the fourth quarter worth about $30,000. Ameliora Wealth Management Ltd. bought a new stake in Q2 in the fourth quarter worth $32,000. Arcadia Investment Management Corp MI purchased a new position in shares of Q2 during the 4th quarter worth about $179,000. Finally, Heck Capital Advisors LLC bought a new stake in Q2 in the fourth quarter worth about $191,000.

Insider Buying and Selling

In related news, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew P. Flake sold 56,799 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,835 shares of company stock worth $11,959,517. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on QTWO. Needham & Company LLC boosted their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Stephens reissued an “overweight” rating and issued a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Citigroup boosted their price target on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Stock Performance

NYSE:QTWO opened at $80.71 on Friday. The stock has a market capitalization of $4.90 billion, a PE ratio of -124.16 and a beta of 1.62. The company has a fifty day moving average of $86.84 and a two-hundred day moving average of $90.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a fifty-two week low of $46.50 and a fifty-two week high of $112.82.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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, research analysts forecast that Q2 Holdings, Inc. will post 0.67 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.