First Trust Advisors LP Purchases 50,335 Shares of Q2 Holdings, Inc. $QTWO

First Trust Advisors LP boosted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 16.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 349,322 shares of the technology company’s stock after purchasing an additional 50,335 shares during the quarter. First Trust Advisors LP’s holdings in Q2 were worth $16,523,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Q2 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after purchasing an additional 82,827 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Q2 by 86.2% in the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after purchasing an additional 1,454,076 shares during the period. William Blair Investment Management LLC raised its position in shares of Q2 by 25.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after buying an additional 553,713 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Q2 by 2.9% in the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock worth $156,221,000 after buying an additional 60,016 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Q2 by 119.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after buying an additional 657,707 shares during the period.

Q2 Trading Up 1.7%

NYSE QTWO opened at $60.22 on Thursday. The firm has a market cap of $3.77 billion, a PE ratio of 53.77 and a beta of 1.33. Q2 Holdings, Inc. has a 1-year low of $40.79 and a 1-year high of $92.04. The stock has a 50-day moving average of $49.01 and a 200-day moving average of $51.51.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.Q2’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, equities research analysts forecast that Q2 Holdings, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on QTWO. Wall Street Zen cut Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Stifel Nicolaus set a $70.00 price target on Q2 in a report on Thursday, April 30th. Morgan Stanley set a $63.00 price target on Q2 in a research report on Thursday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. Finally, Robert W. Baird set a $74.00 price objective on Q2 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Company Profile

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.