Franklin Resources Inc. Acquires 424,062 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Franklin Resources Inc. boosted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 893.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,523 shares of the technology company’s stock after purchasing an additional 424,062 shares during the quarter. Franklin Resources Inc. owned about 0.78% of Q2 worth $47,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Q2 by 0.3% during the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after buying an additional 5,000 shares during the period. BNP Paribas Financial Markets grew its position in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Q2 by 61.8% during the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after purchasing an additional 42,433 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Q2 during the 4th quarter worth approximately $288,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Q2 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after purchasing an additional 10,636 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup increased their price objective on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Needham & Company LLC increased their target price on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.47.

Insider Transactions at Q2

In other Q2 news, CFO Jonathan Price sold 42,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the sale, the chief financial officer now directly owns 209,378 shares of the company’s stock, valued at $15,571,441.86. The trade was a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,858 shares of company stock worth $14,853,965. Corporate insiders own 3.00% of the company’s stock.

Q2 Stock Performance

NYSE:QTWO opened at $70.42 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62. Q2 Holdings, Inc. has a twelve month low of $49.56 and a twelve month high of $112.82. The stock’s 50-day simple moving average is $85.20 and its 200 day simple moving average is $90.70.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. On average, analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.