Russell Investments Group Ltd. Acquires 22,584 Shares of Q2 Holdings, Inc. $QTWO

Russell Investments Group Ltd. raised its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 50.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,931 shares of the technology company’s stock after acquiring an additional 22,584 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Q2 worth $6,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in QTWO. WPG Advisers LLC acquired a new position in Q2 during the 1st quarter worth approximately $35,000. SVB Wealth LLC bought a new stake in shares of Q2 during the first quarter worth $58,000. Summit Securities Group LLC acquired a new position in shares of Q2 during the first quarter worth $64,000. Advisors Asset Management Inc. lifted its stake in shares of Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after acquiring an additional 220 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Q2 during the 2nd quarter valued at $177,000.

Insider Transactions at Q2

In related news, General Counsel Michael S. Kerr sold 967 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $82.60, for a total value of $79,874.20. Following the transaction, the general counsel owned 56,228 shares in the company, valued at $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

Q2 Price Performance

Q2 stock opened at $72.73 on Friday. The stock’s 50 day moving average is $67.05 and its 200 day moving average is $78.72. Q2 Holdings, Inc. has a one year low of $58.57 and a one year high of $112.24. The firm has a market cap of $4.55 billion, a P/E ratio of 151.52 and a beta of 1.37.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The firm had revenue of $201.70 million for the quarter, compared to analyst estimates of $197.87 million. Q2 had a net margin of 4.12% and a return on equity of 10.92%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. Equities analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on QTWO. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Wednesday, October 8th. Stifel Nicolaus reduced their price target on Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Finally, Cantor Fitzgerald reduced their target price on shares of Q2 from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.40.

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.