Tremblant Capital Group Grows Position in Q2 Holdings, Inc. $QTWO

Tremblant Capital Group increased its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 14.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 357,132 shares of the technology company’s stock after buying an additional 44,583 shares during the quarter. Q2 comprises approximately 2.7% of Tremblant Capital Group’s portfolio, making the stock its 19th biggest position. Tremblant Capital Group owned about 0.57% of Q2 worth $25,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of QTWO. Headlands Technologies LLC purchased a new stake in shares of Q2 during the 2nd quarter valued at about $26,000. Cullen Frost Bankers Inc. purchased a new position in shares of Q2 during the third quarter valued at approximately $27,000. Salomon & Ludwin LLC purchased a new position in shares of Q2 during the third quarter valued at approximately $30,000. First Horizon Corp bought a new position in Q2 during the third quarter valued at approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Q2 by 592.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after purchasing an additional 539 shares during the period.

Insider Transactions at Q2

In other news, insider John E. Breeden sold 6,076 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $312,002.60. Following the completion of the sale, the insider directly owned 84,236 shares in the company, valued at $4,325,518.60. This represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kimberly Anne Rutledge sold 3,187 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $50.37, for a total value of $160,529.19. Following the completion of the transaction, the insider directly owned 80,551 shares in the company, valued at approximately $4,057,353.87. This represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 411,087 shares of company stock worth $20,702,472 over the last three months. 0.31% of the stock is currently owned by insiders.

Q2 Trading Down 0.9%

Shares of QTWO stock opened at $48.33 on Friday. Q2 Holdings, Inc. has a 12 month low of $46.16 and a 12 month high of $96.68. The stock has a market cap of $3.02 billion, a P/E ratio of 61.17 and a beta of 1.40. The company has a 50 day simple moving average of $58.29 and a two-hundred day simple moving average of $67.00.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QTWO shares. JPMorgan Chase & Co. cut their target price on shares of Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. DA Davidson raised Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, February 3rd. Stifel Nicolaus set a $75.00 price target on Q2 in a research note on Thursday, February 12th. Royal Bank Of Canada cut their price objective on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a report on Thursday, February 12th. Finally, Morgan Stanley set a $68.00 price objective on Q2 in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Q2 has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

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.