Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,154 shares of the technology company’s stock after selling 37,349 shares during the period. Q2 makes up 2.6% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 15th largest position. Summit Creek Advisors LLC owned about 0.33% of Q2 worth $19,844,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Q2 in the fourth quarter worth approximately $202,645,000. State Street Corp boosted its position in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Q2 by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock worth $107,963,000 after acquiring an additional 19,520 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Q2 by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock worth $51,036,000 after acquiring an additional 10,636 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in shares of Q2 by 9.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 375,700 shares of the technology company’s stock worth $37,814,000 after acquiring an additional 31,175 shares during the last quarter.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of the business’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 completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares of the company’s stock, valued at approximately $8,396,165.36. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock valued at $11,959,517 over the last 90 days. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QTWO. 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 research report on Thursday, February 13th. Citigroup raised their price target on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Truist Financial restated a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Stephens restated an “overweight” rating and issued a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Finally, KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target on the stock in a report on Wednesday, December 18th. Seven equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.27.

Q2 Stock Up 0.6 %

QTWO stock opened at $79.10 on Monday. Q2 Holdings, Inc. has a twelve month low of $46.50 and a twelve month high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $4.80 billion, a P/E ratio of -121.69 and a beta of 1.62. The firm has a 50 day simple moving average of $87.85 and a 200-day simple moving average of $90.42.

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

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.