Lisanti Capital Growth LLC Sells 8,740 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Lisanti Capital Growth LLC trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,745 shares of the technology company’s stock after selling 8,740 shares during the quarter. Q2 makes up 1.7% of Lisanti Capital Growth LLC’s portfolio, making the stock its 10th biggest position. Lisanti Capital Growth LLC owned 0.28% of Q2 worth $7,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QTWO. Vanguard Group Inc. lifted its stake in shares of Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after purchasing an additional 487,111 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Q2 by 13.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock worth $95,650,000 after buying an additional 256,802 shares during the last quarter. North Reef Capital Management LP grew its position in shares of Q2 by 21.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after buying an additional 362,227 shares during the period. Jennison Associates LLC increased its stake in shares of Q2 by 32.0% in the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after acquiring an additional 391,539 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Q2 by 8.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,147,474 shares of the technology company’s stock valued at $37,029,000 after acquiring an additional 89,674 shares during the period.

Insider Activity

In other Q2 news, CEO Matthew P. Flake sold 33,767 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $42.93, for a total value of $1,449,617.31. Following the sale, the chief executive officer now owns 473,411 shares in the company, valued at $20,323,534.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the sale, the director now owns 363,754 shares in the company, valued at approximately $18,224,075.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew P. Flake sold 33,767 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $42.93, for a total transaction of $1,449,617.31. Following the completion of the transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $20,323,534.23. The disclosure for this sale can be found here. Insiders sold a total of 245,702 shares of company stock valued at $11,164,992 in the last quarter. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BTIG Research upped their target price on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler raised their price target on Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group boosted their price objective on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group raised their target price on shares of Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial reiterated a “buy” rating and issued a $65.00 price target (up previously from $60.00) on shares of Q2 in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Q2 Stock Up 2.0 %

QTWO traded up $1.18 on Monday, hitting $61.54. 1,054,439 shares of the company were exchanged, compared to its average volume of 644,549. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. The stock’s fifty day moving average is $51.09 and its 200-day moving average is $43.49. The company has a market cap of $3.70 billion, a PE ratio of -45.58 and a beta of 1.47. Q2 Holdings, Inc. has a 12 month low of $21.94 and a 12 month high of $61.84.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Equities research analysts predict that Q2 Holdings, Inc. will post -0.02 EPS 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.