Strs Ohio decreased its position in shares of Q2 Holdings Inc (NYSE:QTWO) by 90.1% during the second quarter, HoldingsChannel.com reports. The firm owned 2,200 shares of the technology company’s stock after selling 20,000 shares during the period. Strs Ohio’s holdings in Q2 were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vista Equity Partners Management LLC acquired a new stake in shares of Q2 during the 1st quarter worth approximately $4,621,000. Federated Investors Inc. PA grew its stake in shares of Q2 by 3.0% during the 1st quarter. Federated Investors Inc. PA now owns 871,735 shares of the technology company’s stock worth $39,708,000 after purchasing an additional 25,790 shares during the period. Amalgamated Bank acquired a new stake in shares of Q2 during the 2nd quarter worth approximately $319,000. OZ Management LP acquired a new stake in shares of Q2 during the 1st quarter worth approximately $1,704,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Q2 during the 1st quarter worth approximately $1,007,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:QTWO opened at $65.80 on Friday. Q2 Holdings Inc has a 1 year low of $36.25 and a 1 year high of $67.10. The company has a market cap of $2.81 billion, a PE ratio of -137.08 and a beta of 1.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 6.00 and a current ratio of 6.00.
Q2 (NYSE:QTWO) last announced its earnings results on Tuesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. Q2 had a negative return on equity of 14.66% and a negative net margin of 12.07%. The firm had revenue of $58.57 million for the quarter, compared to analyst estimates of $58.34 million. sell-side analysts expect that Q2 Holdings Inc will post -0.53 EPS for the current fiscal year.
QTWO has been the topic of a number of analyst reports. Craig Hallum set a $70.00 price objective on shares of Q2 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Needham & Company LLC increased their target price on Q2 from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 target price on shares of Q2 in a research report on Thursday, August 9th. Zacks Investment Research lowered Q2 from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, ValuEngine upgraded Q2 from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 12th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $59.36.
In other Q2 news, SVP Barry G. Benton sold 5,541 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $65.73, for a total value of $364,209.93. Following the transaction, the senior vice president now owns 38,140 shares in the company, valued at approximately $2,506,942.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Flake sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $59.87, for a total value of $1,197,400.00. Following the completion of the transaction, the chief executive officer now owns 280,008 shares in the company, valued at approximately $16,764,078.96. The disclosure for this sale can be found here. Insiders sold a total of 1,302,444 shares of company stock worth $77,054,364 in the last 90 days. 17.90% of the stock is currently owned by insiders.
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.
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