North Reef Capital Management LP Increases Position in Q2 Holdings, Inc. $QTWO

North Reef Capital Management LP increased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 101.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,690,000 shares of the technology company’s stock after buying an additional 849,480 shares during the quarter. Q2 comprises approximately 5.7% of North Reef Capital Management LP’s holdings, making the stock its 8th largest position. North Reef Capital Management LP owned 2.70% of Q2 worth $122,339,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in QTWO. Advisors Asset Management Inc. grew its position in shares of Q2 by 18.1% during the second quarter. Advisors Asset Management Inc. now owns 1,003 shares of the technology company’s stock worth $94,000 after acquiring an additional 154 shares during the last quarter. Hilltop National Bank increased its position in Q2 by 9.8% in the 3rd quarter. Hilltop National Bank now owns 2,077 shares of the technology company’s stock valued at $150,000 after acquiring an additional 185 shares during the period. California State Teachers Retirement System raised its stake in Q2 by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after acquiring an additional 194 shares in the last quarter. Summit Global Investments raised its stake in Q2 by 2.0% during the 2nd quarter. Summit Global Investments now owns 10,100 shares of the technology company’s stock valued at $945,000 after acquiring an additional 198 shares in the last quarter. Finally, FJ Capital Management LLC boosted its position in Q2 by 5.0% during the 2nd quarter. FJ Capital Management LLC now owns 4,236 shares of the technology company’s stock worth $396,000 after acquiring an additional 201 shares during the period.

Insiders Place Their Bets

In other Q2 news, insider Kimberly Anne Rutledge sold 3,187 shares of Q2 stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $50.37, for a total value of $160,529.19. Following the sale, the insider directly owned 80,551 shares in the company, valued at approximately $4,057,353.87. The trade was a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Himagiri K. Mukkamala sold 1,343 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $51.35, for a total transaction of $68,963.05. Following the sale, the chief operating officer directly owned 92,910 shares in the company, valued at $4,770,928.50. This trade represents a 1.42% 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 in the last ninety days. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on QTWO shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a report on Thursday, January 22nd. Cantor Fitzgerald decreased their price objective on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. UBS Group set a $67.00 price objective on shares of Q2 in a research note on Thursday, February 12th. Stifel Nicolaus set a $75.00 target price on Q2 in a report on Thursday, February 12th. Finally, Needham & Company LLC cut their target price on Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

Q2 Stock Up 1.4%

Shares of Q2 stock opened at $49.00 on Tuesday. The stock has a market cap of $3.06 billion, a PE ratio of 62.02 and a beta of 1.40. The business has a fifty day simple moving average of $57.85 and a 200 day simple moving average of $66.64. Q2 Holdings, Inc. has a 12 month low of $46.16 and a 12 month high of $96.68.

Q2 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.