Oppenheimer Asset Management Inc. Increases Position in Q2 Holdings, Inc. (NYSE:QTWO)

Oppenheimer Asset Management Inc. increased its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 59.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,432 shares of the technology company’s stock after purchasing an additional 14,302 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of Q2 worth $2,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hood River Capital Management LLC purchased a new stake in Q2 during the first quarter worth about $62,765,000. American Century Companies Inc. boosted its position in shares of Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after acquiring an additional 1,190,274 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Q2 by 1,910.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after buying an additional 683,957 shares during the last quarter. Norges Bank acquired a new position in shares of Q2 in the 4th quarter valued at about $20,470,000. Finally, Wasatch Advisors LP grew its stake in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares during the period.

Insider Buying and Selling at Q2

In other news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total transaction of $74,931.61. Following the transaction, the director now directly owns 18,789 shares in the company, valued at approximately $1,389,822.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total transaction of $660,000.00. Following the completion of the sale, the executive vice president now directly owns 226,079 shares in the company, valued at $13,564,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,013 shares of Q2 stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total transaction of $74,931.61. Following the sale, the director now directly owns 18,789 shares in the company, valued at $1,389,822.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,916 shares of company stock worth $3,896,644. Insiders own 3.60% of the company’s stock.

Q2 Stock Up 2.1 %

NYSE QTWO opened at $76.19 on Wednesday. The stock has a market capitalization of $4.58 billion, a P/E ratio of -56.44 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. Q2 Holdings, Inc. has a 52 week low of $28.91 and a 52 week high of $76.54. The stock has a fifty day moving average of $70.26 and a 200-day moving average of $61.11.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. On average, equities research analysts forecast that Q2 Holdings, Inc. will post -0.01 EPS for the current year.

Analysts Set New Price Targets

QTWO has been the topic of a number of analyst reports. DA Davidson lowered shares of Q2 from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $65.00 to $76.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $78.00 target price (up from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.38.

Q2 Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.