Seven Eight Capital LP Buys 8,344 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Seven Eight Capital LP boosted its holdings in Q2 Holdings, Inc. (NYSE:QTWOFree Report) by 79.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,823 shares of the technology company’s stock after acquiring an additional 8,344 shares during the quarter. Seven Eight Capital LP’s holdings in Q2 were worth $817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QTWO. MCF Advisors LLC grew its stake in Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after buying an additional 374 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Q2 by 2,582.4% in the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after buying an additional 878 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in Q2 by 193.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after buying an additional 738 shares during the period. RiverPark Advisors LLC lifted its holdings in Q2 by 261.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after buying an additional 963 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new position in Q2 in the fourth quarter valued at approximately $152,000.

Q2 Stock Performance

Q2 stock opened at $61.03 on Tuesday. Q2 Holdings, Inc. has a 1-year low of $27.17 and a 1-year high of $64.17. The company has a fifty day simple moving average of $57.40 and a 200 day simple moving average of $48.56. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06.

Q2 (NYSE:QTWOGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $165.51 million during the quarter, compared to the consensus estimate of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Sell-side analysts expect that Q2 Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on QTWO shares. Piper Sandler increased their price objective on shares of Q2 from $47.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $50.00 target price (up from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Needham & Company LLC increased their target price on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus increased their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, DA Davidson increased their target price on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Get Our Latest Stock Analysis on Q2

Insider Buying and Selling at Q2

In other Q2 news, CFO David J. Mehok sold 2,453 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $122,895.30. Following the completion of the sale, the chief financial officer now owns 151,846 shares in the company, valued at $7,607,484.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Q2 news, CFO David J. Mehok sold 2,453 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $122,895.30. Following the completion of the sale, the chief financial officer now owns 151,846 shares in the company, valued at $7,607,484.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Diehl sold 27,248 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total transaction of $1,703,272.48. Following the completion of the sale, the director now owns 750,314 shares of the company’s stock, valued at approximately $46,902,128.14. The disclosure for this sale can be found here. Insiders sold a total of 96,280 shares of company stock worth $5,558,249 over the last quarter. 3.60% of the stock is currently owned by insiders.

Q2 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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