Next Century Growth Investors LLC Purchases 10,701 Shares of Q2 Holdings, Inc. $QTWO

Next Century Growth Investors LLC lifted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,404 shares of the technology company’s stock after buying an additional 10,701 shares during the quarter. Q2 comprises about 1.7% of Next Century Growth Investors LLC’s holdings, making the stock its 14th largest position. Next Century Growth Investors LLC owned 0.38% of Q2 worth $22,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers grew its holdings in Q2 by 56.1% during the 1st quarter. Cetera Investment Advisers now owns 4,700 shares of the technology company’s stock worth $376,000 after acquiring an additional 1,689 shares during the period. LPL Financial LLC boosted its position in shares of Q2 by 1.4% during the 1st quarter. LPL Financial LLC now owns 25,933 shares of the technology company’s stock valued at $2,075,000 after purchasing an additional 364 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Q2 by 42.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,816 shares of the technology company’s stock worth $225,000 after purchasing an additional 844 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Q2 by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 514,732 shares of the technology company’s stock worth $41,184,000 after purchasing an additional 7,667 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Q2 by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,861 shares of the technology company’s stock worth $229,000 after purchasing an additional 259 shares in the last quarter.

Analysts Set New Price Targets

QTWO has been the topic of a number of research analyst reports. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Royal Bank Of Canada dropped their target price on shares of Q2 from $102.00 to $86.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Needham & Company LLC reduced their price target on shares of Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald decreased their price target on shares of Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.40.

Q2 Stock Up 0.7%

Shares of Q2 stock opened at $73.98 on Wednesday. The company has a market cap of $4.63 billion, a PE ratio of 154.12 and a beta of 1.37. Q2 Holdings, Inc. has a 52 week low of $58.57 and a 52 week high of $108.51. The business has a 50 day moving average price of $67.04 and a 200-day moving average price of $78.28.

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

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 967 shares of the business’s stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

About Q2

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.