Lazard Asset Management LLC Reduces Stake in Q2 Holdings, Inc. $QTWO

Lazard Asset Management LLC cut its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 98.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,204 shares of the technology company’s stock after selling 4,890,253 shares during the quarter. Lazard Asset Management LLC’s holdings in Q2 were worth $3,368,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of QTWO. Entropy Technologies LP increased its position in shares of Q2 by 864.9% in the first quarter. Entropy Technologies LP now owns 26,902 shares of the technology company’s stock valued at $1,272,000 after buying an additional 24,114 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Q2 in the 1st quarter worth about $1,923,000. Renaissance Technologies LLC boosted its position in shares of Q2 by 136.1% in the 1st quarter. Renaissance Technologies LLC now owns 213,900 shares of the technology company’s stock worth $10,117,000 after buying an additional 123,300 shares in the last quarter. Keebeck Wealth Management grew its stake in Q2 by 13.6% in the 1st quarter. Keebeck Wealth Management now owns 6,883 shares of the technology company’s stock valued at $326,000 after acquiring an additional 826 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Q2 by 139.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock valued at $24,418,000 after acquiring an additional 300,375 shares during the last quarter.

Q2 Stock Up 3.3%

Shares of Q2 stock opened at $61.00 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $90.08. The business’s fifty day moving average is $49.57 and its two-hundred day moving average is $51.50. The firm has a market cap of $3.80 billion, a PE ratio of 43.57 and a beta of 1.33.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. Equities research analysts anticipate that Q2 Holdings, Inc. will post 1.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on QTWO. UBS Group set a $68.00 target price on shares of Q2 in a report on Friday. Morgan Stanley increased their price target on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research note on Friday, July 17th. DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of Q2 in a research note on Thursday, July 23rd. Finally, Needham & Company LLC increased their target price on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

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.