Magnetar Financial LLC Makes New Investment in Q2 Holdings Inc (NYSE:QTWO)

Magnetar Financial LLC acquired a new position in shares of Q2 Holdings Inc (NYSE:QTWO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,900 shares of the technology company’s stock, valued at approximately $1,214,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Q2 by 6.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,817 shares of the technology company’s stock worth $217,000 after purchasing an additional 173 shares in the last quarter. OZ Management LP acquired a new position in shares of Q2 during the second quarter worth about $947,000. United Services Automobile Association lifted its stake in shares of Q2 by 32.9% during the second quarter. United Services Automobile Association now owns 7,067 shares of the technology company’s stock worth $540,000 after purchasing an additional 1,748 shares in the last quarter. Vista Equity Partners Management LLC lifted its stake in shares of Q2 by 22.5% during the second quarter. Vista Equity Partners Management LLC now owns 234,151 shares of the technology company’s stock worth $17,880,000 after purchasing an additional 43,052 shares in the last quarter. Finally, Waddell & Reed Financial Inc. lifted its stake in shares of Q2 by 27.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock worth $105,076,000 after purchasing an additional 295,811 shares in the last quarter.

In other news, EVP Odus Edward Wittenburg, Jr. sold 21,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $90.10, for a total transaction of $1,914,625.00. Following the completion of the transaction, the executive vice president now directly owns 84,923 shares of the company’s stock, valued at $7,651,562.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. H. Seale sold 63,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $77.72, for a total value of $4,896,360.00. Following the transaction, the director now directly owns 384,817 shares of the company’s stock, valued at $29,907,977.24. The disclosure for this sale can be found here. Insiders have sold 241,186 shares of company stock valued at $19,807,603 over the last ninety days. Corporate insiders own 12.80% of the company’s stock.

A number of brokerages have commented on QTWO. Royal Bank of Canada boosted their price objective on Q2 from $79.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Compass Point began coverage on Q2 in a research note on Tuesday, August 13th. They set a “buy” rating and a $105.00 price objective on the stock. KeyCorp boosted their price objective on Q2 from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Stifel Nicolaus boosted their price target on Q2 from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research upgraded Q2 from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Q2 presently has an average rating of “Buy” and an average price target of $80.93.

NYSE QTWO traded up $0.16 on Monday, hitting $79.01. 89,900 shares of the stock traded hands, compared to its average volume of 383,481. The stock has a 50-day moving average of $86.11 and a 200 day moving average of $76.63. Q2 Holdings Inc has a twelve month low of $43.41 and a twelve month high of $93.63. The company has a market capitalization of $3.76 billion, a P/E ratio of -213.54 and a beta of 1.31. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 1.14.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. The company had revenue of $77.60 million during the quarter, compared to analyst estimates of $76.10 million. Q2 had a negative return on equity of 13.40% and a negative net margin of 20.73%. The business’s revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, equities research analysts expect that Q2 Holdings Inc will post -0.66 earnings per share for the current year.

Q2 Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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