California State Teachers Retirement System increased its stake in Q2 Holdings Inc. (NYSE:QTWO) by 29.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,615 shares of the company’s stock after buying an additional 12,315 shares during the period. California State Teachers Retirement System owned 0.14% of Q2 Holdings worth $1,502,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in QTWO. UBS Asset Management Americas Inc. raised its position in Q2 Holdings by 4.2% in the first quarter. UBS Asset Management Americas Inc. now owns 11,255 shares of the company’s stock worth $271,000 after buying an additional 455 shares in the last quarter. Geode Capital Management LLC raised its position in Q2 Holdings by 0.8% in the first quarter. Geode Capital Management LLC now owns 144,959 shares of the company’s stock worth $3,484,000 after buying an additional 1,140 shares in the last quarter. BlackRock Group LTD raised its position in Q2 Holdings by 75.0% in the first quarter. BlackRock Group LTD now owns 7,201 shares of the company’s stock worth $173,000 after buying an additional 3,086 shares in the last quarter. Cupps Capital Management LLC raised its position in Q2 Holdings by 5,427.5% in the first quarter. Cupps Capital Management LLC now owns 14,095 shares of the company’s stock worth $338,000 after buying an additional 13,840 shares in the last quarter. Finally, State Street Corp raised its position in Q2 Holdings by 5.3% in the first quarter. State Street Corp now owns 324,531 shares of the company’s stock worth $7,802,000 after buying an additional 16,335 shares in the last quarter. Hedge funds and other institutional investors own 89.16% of the company’s stock.

Q2 Holdings Inc. (NYSE:QTWO) traded down 0.39% during mid-day trading on Tuesday, reaching $28.24. 106,605 shares of the company were exchanged. Q2 Holdings Inc. has a 12 month low of $16.43 and a 12 month high of $30.73. The company’s 50 day moving average price is $28.01 and its 200-day moving average price is $25.80. The stock’s market capitalization is $1.12 billion.

Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.13. Q2 Holdings had a negative net margin of 27.14% and a negative return on equity of 22.39%. The company had revenue of $36 million for the quarter, compared to the consensus estimate of $35.66 million. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities analysts expect that Q2 Holdings Inc. will post ($0.35) earnings per share for the current fiscal year.

QTWO has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Q2 Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $31.00 target price (up previously from $27.00) on shares of Q2 Holdings in a report on Friday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Q2 Holdings in a report on Monday, August 29th. Royal Bank Of Canada lifted their target price on shares of Q2 Holdings from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Morgan Stanley started coverage on shares of Q2 Holdings in a report on Monday, July 25th. They issued an “equal weight” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.50.

In other Q2 Holdings news, SVP Sherri Manning sold 10,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the senior vice president now directly owns 21,700 shares of the company’s stock, valued at $629,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles T. Doyle sold 15,058 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $30.00, for a total transaction of $451,740.00. Following the sale, the director now directly owns 899 shares in the company, valued at $26,970. The disclosure for this sale can be found here. Company insiders own 38.10% of the company’s stock.

About Q2 Holdings

Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.

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