Tremblant Capital Group Sells 135,008 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Tremblant Capital Group reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 18.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,056 shares of the technology company’s stock after selling 135,008 shares during the period. Q2 accounts for approximately 3.9% of Tremblant Capital Group’s investment portfolio, making the stock its 9th biggest position. Tremblant Capital Group owned approximately 0.99% of Q2 worth $36,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Q2 by 45.2% in the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after acquiring an additional 20,195 shares during the period. Jennison Associates LLC boosted its position in shares of Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after acquiring an additional 235,582 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Q2 by 67.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock valued at $2,908,000 after acquiring an additional 22,400 shares during the period. PEAK6 Investments LLC boosted its position in shares of Q2 by 68.8% in the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock valued at $3,004,000 after acquiring an additional 28,215 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Q2 by 67.4% in the fourth quarter. Principal Financial Group Inc. now owns 39,605 shares of the technology company’s stock valued at $1,719,000 after acquiring an additional 15,942 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on QTWO shares. The Goldman Sachs Group boosted their target price on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research upped their price objective on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. DA Davidson cut shares of Q2 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $65.00 to $76.00 in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price objective 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. Finally, Needham & Company LLC upped their price objective on shares of Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.38.

Insider Activity

In other news, insider Kimberly Anne Rutledge sold 1,953 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 115,436 shares of the company’s stock, valued at $7,503,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Q2 news, Director James Offerdahl sold 1,013 shares of the stock in a transaction that occurred on 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 owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kimberly Anne Rutledge sold 1,953 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $126,945.00. Following the sale, the insider now directly owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The disclosure for this sale can be found here. Insiders sold 54,916 shares of company stock valued at $3,896,644 over the last quarter. 3.60% of the stock is owned by company insiders.

Q2 Stock Down 2.5 %

QTWO stock opened at $79.48 on Tuesday. The firm has a 50-day moving average price of $71.40 and a 200-day moving average price of $62.02. Q2 Holdings, Inc. has a 12 month low of $28.91 and a 12 month high of $82.72. 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 stock has a market capitalization of $4.78 billion, a P/E ratio of -58.87 and a beta of 1.58.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The firm had revenue of $172.89 million during the quarter, compared to analyst estimates of $170.67 million. As a group, equities research analysts anticipate that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Q2 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.