Q2 Holdings, Inc. $QTWO Holdings Lifted by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,678 shares of the technology company’s stock after purchasing an additional 23,738 shares during the quarter. King Luther Capital Management Corp owned 0.25% of Q2 worth $8,409,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Optiver Holding B.V. raised its position in Q2 by 1,578.9% during the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock worth $30,000 after buying an additional 600 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Q2 by 48.1% in the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock valued at $54,000 after acquiring an additional 364 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Q2 in the 2nd quarter valued at $61,000. Covestor Ltd boosted its holdings in shares of Q2 by 177.5% in the 3rd quarter. Covestor Ltd now owns 1,157 shares of the technology company’s stock valued at $64,000 after acquiring an additional 740 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Q2 in the second quarter worth $71,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QTWO. DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. Morgan Stanley upped their price target on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Robert W. Baird set a $83.00 price target on Q2 in a research report on Thursday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Q2 in a research note on Thursday, October 29th. Finally, Stifel Nicolaus boosted their price objective on Q2 from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average price target of $78.33.

Q2 Stock Performance

Shares of NYSE QTWO opened at $72.97 on Friday. The company’s fifty day moving average price is $63.07 and its 200 day moving average price is $55.04. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $76.37. The company has a market capitalization of $4.51 billion, a PE ratio of 41.89 and a beta of 1.36.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $225.77 million during the quarter, compared to analysts’ expectations of $221.23 million. Q2 had a net margin of 12.66% and a return on equity of 17.85%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, equities analysts expect that Q2 Holdings, Inc. will post 1.88 EPS for the current year.

Insider Activity at Q2

In related news, General Counsel Michael Kerr sold 636 shares of Q2 stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $60.96, for a total value of $38,770.56. Following the completion of the transaction, the general counsel owned 80,739 shares in the company, valued at $4,921,849.44. The trade was a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.88% of the stock is owned by company insiders.

Q2 Company Profile

Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company’s offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.