Commonwealth Equity Services LLC Takes $733,000 Position in Q2 Holdings, Inc. (NYSE:QTWO)

Commonwealth Equity Services 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 7,278 shares of the technology company’s stock, valued at approximately $733,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QTWO. BNP Paribas Financial Markets lifted its position in shares of Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after buying an additional 7,475 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Q2 by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,307 shares of the technology company’s stock worth $1,061,000 after acquiring an additional 1,584 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Q2 in the third quarter worth $9,847,000. Captrust Financial Advisors grew its stake in Q2 by 20.1% in the 3rd quarter. Captrust Financial Advisors now owns 4,892 shares of the technology company’s stock valued at $390,000 after purchasing an additional 820 shares during the period. Finally, Parallax Volatility Advisers L.P. grew its stake in Q2 by 5.5% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock valued at $443,000 after purchasing an additional 288 shares during the period.

Insider Buying and Selling at Q2

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now owns 113,278 shares of the company’s stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock valued at $14,853,965 in the last three months. Company insiders own 3.00% of the company’s stock.

Q2 Stock Up 1.0 %

Shares of NYSE QTWO opened at $82.25 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.99 billion, a P/E ratio of -126.54 and a beta of 1.62. Q2 Holdings, Inc. has a 52 week low of $49.56 and a 52 week high of $112.82. The business has a 50-day simple moving average of $86.05 and a two-hundred day simple moving average of $90.84.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Research analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QTWO has been the topic of a number of research analyst reports. Stephens reissued an “overweight” rating and issued a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Truist Financial restated a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Citigroup upped their price objective on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $105.47.

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.