Summit Creek Advisors LLC Acquires Shares of 101,701 Q2 Holdings, Inc. $QTWO

Summit Creek Advisors LLC acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO) in the second quarter, Holdings Channel.com reports. The firm acquired 101,701 shares of the technology company’s stock, valued at approximately $4,892,000.

Several other large investors have also made changes to their positions in QTWO. Capital Research Global Investors lifted its position in shares of Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after buying an additional 1,454,076 shares in the last quarter. UBS Group AG raised its position in Q2 by 343.5% during the third quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock worth $73,110,000 after acquiring an additional 782,220 shares during the period. Assenagon Asset Management S.A. raised its position in Q2 by 119.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock worth $57,253,000 after acquiring an additional 657,707 shares during the period. Norges Bank purchased a new position in Q2 during the fourth quarter valued at $44,960,000. Finally, William Blair Investment Management LLC lifted its holdings in Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after purchasing an additional 553,713 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QTWO. Morgan Stanley lifted their target price on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Needham & Company LLC lifted their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group set a $68.00 price objective on Q2 in a report on Friday, July 31st. Finally, DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Q2 Stock Down 2.2%

Shares of NYSE QTWO opened at $63.00 on Wednesday. The firm has a 50-day simple moving average of $53.72 and a 200-day simple moving average of $51.12. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 45.00 and a beta of 1.30. Q2 Holdings, Inc. has a 52 week low of $40.79 and a 52 week high of $85.19.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. During the same period last year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 1.84 EPS for the current year.

Insider Transactions at Q2

In other Q2 news, insider Kimberly Anne Rutledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, the insider directly owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total value of $5,071,497.80. Following the transaction, the chief financial officer owned 207,633 shares in the company, valued at approximately $13,643,564.43. This represents a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by corporate insiders.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.