Summit Investment Advisors Inc. Acquires 195 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Summit Investment Advisors Inc. lifted its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,156 shares of the technology company’s stock after acquiring an additional 195 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Q2 were worth $620,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Q2 in the fourth quarter worth $202,645,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Q2 by 107.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after acquiring an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after acquiring an additional 655,838 shares during the period. Franklin Resources Inc. grew its position in Q2 by 893.5% during the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock worth $47,459,000 after acquiring an additional 424,062 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Q2 by 208.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 381,094 shares of the technology company’s stock worth $38,357,000 after purchasing an additional 257,652 shares during the period.

Q2 Trading Up 0.1 %

Shares of NYSE QTWO opened at $74.97 on Friday. The stock has a market cap of $4.55 billion, a P/E ratio of -115.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a 1 year low of $49.56 and a 1 year high of $112.82. The firm has a 50-day moving average of $80.11 and a 200 day moving average of $90.21.

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

Analyst Upgrades and Downgrades

QTWO has been the topic of several analyst reports. Citigroup lifted their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Compass Point reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Q2 in a research note on Monday, April 7th. Royal Bank of Canada boosted their price target on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Truist Financial restated a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

Insider Transactions at Q2

In related news, CEO Matthew P. Flake sold 36,023 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares of the company’s stock, valued at approximately $39,023,263.10. This represents a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now directly owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock valued at $14,853,965 in the last quarter. 3.00% of the stock is owned by insiders.

Q2 Company 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.