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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versor Investments LP acquired a new position in shares of Q2 in the third quarter worth about $590,000. State Street Corp raised its holdings in Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares during the period. BNP Paribas Financial Markets boosted its position in Q2 by 32.2% during the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares in the last quarter. Nordea Investment Management AB grew its holdings in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after purchasing an additional 42,433 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Q2 in the third quarter valued at approximately $1,227,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on QTWO shares. Stifel Nicolaus upped their price target on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Baird R W downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and a consensus target price of $105.27.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Michael A. Volanoski sold 15,005 shares of Q2 stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $1,112,170.60. Following the completion of the transaction, the executive now owns 197,966 shares of the company’s stock, valued at approximately $14,673,239.92. The trade was a 7.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,835 shares of company stock worth $11,959,517. Insiders own 3.00% of the company’s stock.

Q2 Stock Performance

NYSE:QTWO opened at $72.88 on Friday. The firm has a 50-day moving average of $90.35 and a two-hundred day moving average of $90.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $4.43 billion, a P/E ratio of -112.12 and a beta of 1.62. Q2 Holdings, Inc. has a 1-year low of $46.50 and a 1-year high of $112.82.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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%. On average, research analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share 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.