Fifth Third Bancorp Has $12.16 Million Stake in Q2 Holdings, Inc. $QTWO

Fifth Third Bancorp boosted its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 27,165.5% during the 1st quarter, HoldingsChannel reports. The fund owned 257,114 shares of the technology company’s stock after acquiring an additional 256,171 shares during the quarter. Fifth Third Bancorp’s holdings in Q2 were worth $12,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of QTWO. William Blair Investment Management LLC grew its holdings in shares of Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after buying an additional 553,713 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in Q2 by 48.7% in the 4th quarter. Peregrine Capital Management LLC now owns 143,243 shares of the technology company’s stock valued at $10,336,000 after acquiring an additional 46,903 shares in the last quarter. Vanguard Group Inc. lifted its stake in Q2 by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after acquiring an additional 82,827 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Q2 during the 4th quarter worth approximately $3,080,000. Finally, BNP Paribas Financial Markets boosted its position in Q2 by 207.2% during the 4th quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock worth $9,877,000 after acquiring an additional 92,318 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QTWO shares. Stifel Nicolaus set a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Q2 in a research report on Thursday, April 30th. Morgan Stanley set a $63.00 price target on shares of Q2 in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Trading Down 1.2%

NYSE QTWO opened at $52.04 on Wednesday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 46.46 and a beta of 1.33. The firm’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $52.78. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $92.66.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The firm had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. On average, research analysts anticipate that Q2 Holdings, Inc. will post 1.64 EPS for the current fiscal year.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.