Jennison Associates LLC Raises Position in Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC grew its position in Q2 Holdings, Inc. (NYSE:QTWO) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,616,825 shares of the technology company’s stock after acquiring an additional 391,539 shares during the period. Jennison Associates LLC owned about 2.76% of Q2 worth $70,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of Q2 in the fourth quarter valued at about $1,938,000. Vanguard Group Inc. boosted its holdings in shares of Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Q2 by 13.4% in the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after acquiring an additional 3,496 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Q2 in the third quarter valued at about $5,534,000. Finally, California Public Employees Retirement System boosted its holdings in Q2 by 15.5% during the third quarter. California Public Employees Retirement System now owns 105,320 shares of the technology company’s stock worth $3,399,000 after buying an additional 14,155 shares in the last quarter.

Insider Activity at Q2

In related news, CEO Matthew P. Flake sold 46,937 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $42.20, for a total transaction of $1,980,741.40. Following the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,977,944.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthew P. Flake sold 46,937 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $42.20, for a total transaction of $1,980,741.40. Following the completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,977,944.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Mehok sold 5,806 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,639 shares of company stock valued at $14,994,784. Company insiders own 3.60% of the company’s stock.

Q2 Stock Performance

Shares of QTWO opened at $51.75 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The company’s 50 day simple moving average is $48.85 and its 200 day simple moving average is $41.91. Q2 Holdings, Inc. has a 1 year low of $21.21 and a 1 year high of $53.96.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. As a group, research analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on QTWO shares. Canaccord Genuity Group boosted their price objective on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. TheStreet raised shares of Q2 from a “d+” rating to a “c-” rating in a report on Friday, December 29th. Robert W. Baird boosted their price objective on shares of Q2 from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Piper Sandler boosted their price objective on shares of Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Q2 from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Q2 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.