Smith Group Asset Management LLC Takes $1.42 Million Position in Q2 Holdings, Inc. $QTWO

Smith Group Asset Management LLC bought a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the first quarter, HoldingsChannel reports. The institutional investor bought 30,062 shares of the technology company’s stock, valued at approximately $1,422,000.

Several other large investors have also made changes to their positions in QTWO. Vanguard Group Inc. boosted its holdings in Q2 by 1.0% in the fourth 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 during the last quarter. Capital Research Global Investors raised its holdings in Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after purchasing an additional 1,454,076 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after purchasing an additional 553,713 shares during the last quarter. Wasatch Advisors LP lifted its position in Q2 by 2.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock valued at $156,221,000 after purchasing an additional 60,016 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after purchasing an additional 657,707 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on QTWO shares. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. Stifel Nicolaus set a $70.00 target price on shares of Q2 in a report on Thursday, April 30th. Finally, UBS Group set a $77.00 target price on shares of Q2 in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.45.

Q2 Stock Up 1.6%

Shares of NYSE QTWO opened at $59.09 on Wednesday. The company’s fifty day moving average is $48.75 and its 200-day moving average is $51.58. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 52.76 and a beta of 1.33. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $92.66.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). The firm had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. Q2’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm 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.