Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,340 shares of the technology company’s stock after buying an additional 4,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Q2 were worth $1,745,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Highland Capital Management LLC lifted its position in shares of Q2 by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after buying an additional 172 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Q2 by 1.1% in the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock worth $1,761,000 after buying an additional 190 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its position in shares of Q2 by 5.5% in the third quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock worth $443,000 after buying an additional 288 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Q2 in the fourth quarter worth about $30,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Q2 in the fourth quarter worth about $32,000.

Q2 Stock Up 1.7 %

Shares of NYSE QTWO opened at $77.19 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -118.75 and a beta of 1.62. The stock has a 50 day moving average price of $89.34 and a 200 day moving average price of $90.29. Q2 Holdings, Inc. has a 52-week low of $46.50 and a 52-week high of $112.82.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (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%. Sell-side analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on QTWO. Raymond James boosted their price objective on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Truist Financial reissued a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a research note on Wednesday, December 18th. Finally, Needham & Company LLC boosted their price objective on Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.27.

Insider Activity at Q2

In related news, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Michael A. Volanoski sold 15,005 shares of the company’s stock in a transaction 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 sale, the executive now owns 197,966 shares of the company’s stock, valued at approximately $14,673,239.92. This represents 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. Company insiders own 3.00% of the company’s stock.

Q2 Company 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.