Emerald Advisers LLC Sells 101,090 Shares of Q2 Holdings, Inc. $QTWO

Emerald Advisers LLC lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 24.0% in the 1st quarter, Holdings Channel reports. The firm owned 320,580 shares of the technology company’s stock after selling 101,090 shares during the quarter. Emerald Advisers LLC’s holdings in Q2 were worth $15,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Q2 by 2.1% in the first quarter. Principal Financial Group Inc. now owns 305,133 shares of the technology company’s stock worth $14,433,000 after acquiring an additional 6,131 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Q2 by 206.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,684 shares of the technology company’s stock valued at $2,256,000 after purchasing an additional 32,134 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Q2 by 27,165.5% during the first quarter. Fifth Third Bancorp now owns 257,114 shares of the technology company’s stock worth $12,161,000 after acquiring an additional 256,171 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Q2 during the 1st quarter worth about $273,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Q2 in the first quarter valued at approximately $5,367,000.

Q2 Price Performance

Q2 stock opened at $52.71 on Tuesday. Q2 Holdings, Inc. has a one year low of $40.79 and a one year high of $92.66. The firm has a market cap of $3.30 billion, a PE ratio of 47.07 and a beta of 1.33. The stock’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $52.94.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Q2’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Q2 Holdings, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QTWO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a research report on Tuesday, April 21st. UBS Group set a $77.00 price target on shares of Q2 in a research note on Thursday, April 30th. Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. reduced their price target on Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of Q2 in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.45.

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.