Rhumbline Advisers Acquires 5,583 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Rhumbline Advisers boosted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,849 shares of the technology company’s stock after purchasing an additional 5,583 shares during the period. Rhumbline Advisers’ holdings in Q2 were worth $5,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its position in Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Q2 during the first quarter worth approximately $50,000. nVerses Capital LLC purchased a new stake in shares of Q2 in the second quarter valued at approximately $181,000. SG Americas Securities LLC bought a new position in Q2 in the first quarter worth approximately $173,000. Finally, Accel Wealth Management purchased a new position in Q2 during the 1st quarter worth $220,000.

Wall Street Analyst Weigh In

QTWO has been the subject of several research reports. BTIG Research upped their price target 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. Needham & Company LLC boosted their price target on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their price target on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $78.00 price target (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.38.

Insiders Place Their Bets

In related news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction 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 transaction, the director now owns 18,789 shares in the company, valued at $1,389,822.33. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Offerdahl sold 1,013 shares of Q2 stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares in the company, valued at approximately $1,389,822.33. The disclosure for this sale can be found here. Insiders have sold a total of 54,916 shares of company stock worth $3,896,644 in the last quarter. 3.60% of the stock is owned by company insiders.

Q2 Stock Up 3.8 %

Q2 stock opened at $74.80 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market capitalization of $4.51 billion, a PE ratio of -55.41 and a beta of 1.58. Q2 Holdings, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $75.94. The firm has a 50 day moving average price of $69.71 and a 200 day moving average price of $60.70.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) 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 business had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. Research analysts expect that Q2 Holdings, Inc. will post -0.01 earnings per share for the current 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.