Louisiana State Employees Retirement System Buys New Shares in Q2 Holdings, Inc. $QTWO

Louisiana State Employees Retirement System bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 27,700 shares of the technology company’s stock, valued at approximately $1,310,000.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Q2 in the second quarter worth about $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Q2 in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Q2 during the 4th quarter valued at about $27,000. Quarry LP boosted its holdings in Q2 by 92.5% during the 3rd quarter. Quarry LP now owns 697 shares of the technology company’s stock valued at $50,000 after acquiring an additional 335 shares during the period. Finally, Danske Bank A S purchased a new stake in Q2 during the 3rd quarter valued at about $51,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QTWO. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price target on shares of Q2 in a research note on Monday, June 1st. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Q2 in a research note on Thursday, April 30th. Robert W. Baird set a $74.00 target price on shares of Q2 in a report on Thursday, April 30th. Zacks Research downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. Seven research analysts have rated the stock with 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 $73.45.

Q2 Price Performance

Shares of NYSE:QTWO opened at $52.37 on Friday. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $95.10. The company has a market cap of $3.28 billion, a PE ratio of 46.76 and a beta of 1.33. The stock’s 50-day moving average is $46.86 and its 200 day moving average is $53.99.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). The business had revenue of $216.51 million during the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Analysts expect that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Q2 Company Profile

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.