Nationwide Fund Advisors raised its stake in shares of Q2 Holdings Inc. (NYSE:QTWO) by 73.8% during the second quarter, Holdings Channel reports. The firm owned 61,115 shares of the company’s stock after buying an additional 25,943 shares during the period. Nationwide Fund Advisors owned about 0.15% of Q2 Holdings worth $1,712,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in QTWO. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Q2 Holdings during the second quarter valued at about $304,000. Cupps Capital Management LLC increased its stake in shares of Q2 Holdings by 5,427.5% in the first quarter. Cupps Capital Management LLC now owns 14,095 shares of the company’s stock valued at $338,000 after buying an additional 13,840 shares during the period. Blair William & Co. IL acquired a new stake in shares of Q2 Holdings during the second quarter valued at about $362,000. California Public Employees Retirement System acquired a new stake in shares of Q2 Holdings during the second quarter valued at about $378,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Q2 Holdings by 12.7% in the second quarter. Venturi Wealth Management LLC now owns 17,750 shares of the company’s stock valued at $497,000 after buying an additional 2,000 shares during the period. 89.16% of the stock is currently owned by institutional investors.
Shares of Q2 Holdings Inc. (NYSE:QTWO) traded up 0.21% during trading on Friday, reaching $28.16. 113,107 shares of the company traded hands. Q2 Holdings Inc. has a 12 month low of $16.43 and a 12 month high of $30.73. The firm has a 50-day moving average price of $28.46 and a 200-day moving average price of $26.64. The firm’s market capitalization is $1.12 billion.
Q2 Holdings (NYSE:QTWO) last released its earnings results on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.13. The company had revenue of $36 million for the quarter, compared to analyst estimates of $35.66 million. Q2 Holdings had a negative net margin of 27.14% and a negative return on equity of 22.39%. Q2 Holdings’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities research analysts anticipate that Q2 Holdings Inc. will post ($0.35) EPS for the current year.
Several brokerages have issued reports on QTWO. BTIG Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Q2 Holdings in a report on Thursday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of Q2 Holdings in a report on Monday, August 29th. Morgan Stanley assumed coverage on shares of Q2 Holdings in a report on Monday, July 25th. They issued an “equal weight” rating and a $29.00 price target on the stock. Zacks Investment Research lowered shares of Q2 Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, Royal Bank Of Canada boosted their price objective on shares of Q2 Holdings from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Q2 Holdings presently has an average rating of “Buy” and an average target price of $30.50.
In other news, SVP Barry G. Benton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $28.27, for a total transaction of $28,270.00. Following the completion of the transaction, the senior vice president now owns 15,723 shares in the company, valued at approximately $444,489.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sherri Manning sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the senior vice president now owns 21,700 shares of the company’s stock, valued at approximately $629,300. The disclosure for this sale can be found here. 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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