Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Q2 Holdings, Inc. $QTWO

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the 1st quarter, Holdings Channel.com reports. The firm bought 40,660 shares of the technology company’s stock, valued at approximately $1,923,000.

A number of other large investors have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in Q2 by 35.0% during the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after acquiring an additional 220 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Q2 by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock valued at $2,803,000 after acquiring an additional 1,525 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Q2 by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock valued at $43,023,000 after purchasing an additional 95,440 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Q2 by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock valued at $14,907,000 after purchasing an additional 6,909 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Q2 by 592.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after purchasing an additional 539 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QTWO. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Q2 in a research note on Thursday, July 23rd. Morgan Stanley lifted their price target on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday. Wall Street Zen upgraded shares of Q2 from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird set a $74.00 price objective on shares of Q2 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus raised their target price on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.00.

Q2 Price Performance

Shares of QTWO stock opened at $61.00 on Friday. The firm has a fifty day moving average of $49.57 and a two-hundred day moving average of $51.50. The firm has a market cap of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.33. Q2 Holdings, Inc. has a 1-year low of $40.79 and a 1-year high of $90.08.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The business had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, sell-side analysts expect that Q2 Holdings, Inc. will post 1.73 EPS for the current year.

Q2 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.