Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Q2 Holdings Inc. (NYSE:QTWO) during the second quarter, Holdings Channel reports. The institutional investor purchased 10,850 shares of the company’s stock, valued at approximately $304,000.
Other large investors also recently modified their holdings of the company. Royce & Associates LP increased its stake in Q2 Holdings by 30.8% in the second quarter. Royce & Associates LP now owns 204,000 shares of the company’s stock worth $5,716,000 after buying an additional 48,000 shares during the period. Blair William & Co. IL acquired a new stake in Q2 Holdings during the second quarter worth approximately $362,000. William Blair Investment Management LLC increased its stake in Q2 Holdings by 72.5% in the second quarter. William Blair Investment Management LLC now owns 347,209 shares of the company’s stock worth $9,729,000 after buying an additional 145,902 shares during the period. First Trust Advisors LP acquired a new stake in Q2 Holdings during the second quarter worth approximately $779,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Q2 Holdings by 19.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,822 shares of the company’s stock worth $555,000 after buying an additional 3,228 shares during the period. 89.16% of the stock is owned by hedge funds and other institutional investors.
Q2 Holdings Inc. (NYSE:QTWO) traded down 0.5277% during mid-day trading on Wednesday, reaching $28.7475. The company had a trading volume of 60,540 shares. Q2 Holdings Inc. has a 12 month low of $16.43 and a 12 month high of $30.73. The firm’s market capitalization is $1.14 billion. The stock’s 50-day moving average is $27.91 and its 200 day moving average is $26.11.
Q2 Holdings (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.13. The company had revenue of $36 million for the quarter, compared to the consensus estimate of $35.66 million. Q2 Holdings had a negative return on equity of 22.39% and a negative net margin of 27.14%. The business’s quarterly revenue was up 36.9% on a year-over-year basis. On average, analysts predict that Q2 Holdings Inc. will post ($0.35) earnings per share for the current fiscal year.
QTWO has been the subject of a number of recent analyst reports. Needham & Company LLC initiated coverage on Q2 Holdings in a report on Tuesday, June 21st. They issued a “buy” rating and a $34.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $32.00 target price on shares of Q2 Holdings in a report on Thursday, August 4th. Morgan Stanley initiated coverage on Q2 Holdings in a report on Monday, July 25th. They issued an “equal weight” rating and a $29.00 target price for the company. Zacks Investment Research raised Q2 Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $31.00 target price (up previously from $27.00) on shares of Q2 Holdings in a report on Friday, August 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Q2 Holdings has an average rating of “Buy” and an average price target of $30.50.
In related news, Director Charles T. Doyle sold 15,058 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $30.00, for a total transaction of $451,740.00. Following the completion of the transaction, the director now directly owns 899 shares in the company, valued at approximately $26,970. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $27.83, for a total value of $27,830.00. Following the transaction, the director now owns 12,043 shares of the company’s stock, valued at $335,156.69. The disclosure for this sale can be found here. Corporate insiders own 38.10% of the company’s stock.
Q2 Holdings Company Profile
Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.
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