Clearbridge Investments LLC Takes $13.49 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

Clearbridge Investments LLC purchased a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 223,604 shares of the technology company’s stock, valued at approximately $13,490,000. Clearbridge Investments LLC owned about 0.37% of Q2 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Q2 by 45.2% during the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after buying an additional 20,195 shares during the last quarter. Jennison Associates LLC raised its holdings in Q2 by 14.6% during the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Q2 by 68.8% during the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock worth $3,004,000 after purchasing an additional 28,215 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Q2 during the first quarter worth approximately $1,055,000.

Q2 Trading Up 2.3 %

NYSE QTWO opened at $79.59 on Friday. Q2 Holdings, Inc. has a twelve month low of $28.91 and a twelve month high of $82.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -58.96 and a beta of 1.59. The firm’s 50 day moving average price is $73.29 and its two-hundred day moving average price is $63.68.

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

Insider Activity

In other news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kimberly Anne Rutledge sold 1,953 shares of Q2 stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the sale, the insider now owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,916 shares of company stock worth $3,236,644 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QTWO. Truist Financial reissued a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. Needham & Company LLC boosted their target price on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BTIG Research upped their price target on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Q2 in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.38.

About Q2

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.