Norges Bank Invests $44.96 Million in Q2 Holdings, Inc. $QTWO

Norges Bank purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 623,057 shares of the technology company’s stock, valued at approximately $44,960,000. Norges Bank owned 1.00% of Q2 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Q2 during the 2nd quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Q2 during the 3rd quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after buying an additional 539 shares during the period. Quarry LP raised its position in shares of Q2 by 92.5% during the 3rd quarter. Quarry LP now owns 697 shares of the technology company’s stock valued at $50,000 after buying an additional 335 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Q2 during the 3rd quarter valued at approximately $51,000.

Q2 Trading Down 1.9%

Q2 stock opened at $44.83 on Tuesday. Q2 Holdings, Inc. has a twelve month low of $44.46 and a twelve month high of $96.68. The stock’s fifty day simple moving average is $48.06 and its 200-day simple moving average is $57.46. The firm has a market capitalization of $2.81 billion, a P/E ratio of 40.03 and a beta of 1.34.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The company had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Q2

In related news, insider Kimberly Anne Rutledge sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.37, for a total transaction of $160,529.19. Following the sale, the insider directly owned 80,551 shares in the company, valued at approximately $4,057,353.87. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QTWO shares. Royal Bank Of Canada reduced their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Q2 from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. Truist Financial reduced their price objective on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of Q2 in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average price target of $75.27.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.