Envestnet Asset Management Inc. Buys 3,525 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Envestnet Asset Management Inc. raised its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 4.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 77,870 shares of the technology company’s stock after purchasing an additional 3,525 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Q2 were worth $4,698,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QTWO. CWM LLC grew its holdings in shares of Q2 by 54.2% during the 2nd 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 last quarter. Fidelis Capital Partners LLC bought a new position in shares of Q2 during the 1st quarter valued at $50,000. Quest Partners LLC bought a new position in shares of Q2 during the 2nd quarter valued at $153,000. nVerses Capital LLC bought a new position in shares of Q2 during the 2nd quarter valued at $181,000. Finally, SG Americas Securities LLC purchased a new stake in Q2 during the 1st quarter valued at $173,000.

Q2 Trading Down 2.4 %

Shares of NYSE QTWO opened at $77.82 on Wednesday. The stock has a market cap of $4.68 billion, a P/E ratio of -59.09 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $82.72. The firm has a 50-day moving average of $72.46 and a 200 day moving average of $63.05.

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

Insider Buying and Selling at Q2

In other news, Director Jeffrey T. Diehl sold 28,005 shares of Q2 stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeffrey T. Diehl sold 28,005 shares of Q2 stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Anne Rutledge sold 1,953 shares of the firm’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 transaction of $126,945.00. Following the completion of the transaction, the insider now directly owns 115,436 shares in the company, valued at approximately $7,503,340. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,916 shares of company stock worth $3,236,644. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BTIG Research increased their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada increased their price target on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Truist Financial reissued 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. DA Davidson reissued a “neutral” rating and set a $76.00 price target on shares of Q2 in a research report on Monday. Finally, Needham & Company LLC increased their price target on shares of Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus target price of $72.38.

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.