Q2 Holdings, Inc. $QTWO Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 27.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 47,945 shares of the technology company’s stock after purchasing an additional 10,207 shares during the quarter. Quantinno Capital Management LP’s holdings in Q2 were worth $2,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QTWO. Advisors Asset Management Inc. boosted its position in shares of Q2 by 35.0% during the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after acquiring an additional 220 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Q2 by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after acquiring an additional 1,525 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Q2 by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after purchasing an additional 95,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Q2 by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock worth $14,907,000 after purchasing an additional 6,909 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after purchasing an additional 539 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on QTWO. Robert W. Baird set a $74.00 price target on shares of Q2 in a research note on Thursday, April 30th. Needham & Company LLC upped their target price on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Q2 from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Q2 has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Q2 Price Performance

QTWO stock opened at $63.44 on Tuesday. Q2 Holdings, Inc. has a 12 month low of $40.79 and a 12 month high of $85.19. The company’s 50 day simple moving average is $51.53 and its 200-day simple moving average is $51.24. The firm has a market capitalization of $3.96 billion, a PE ratio of 45.31 and a beta of 1.30.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, sell-side analysts anticipate that Q2 Holdings, Inc. will post 1.84 earnings per share for the current year.

Q2 Company 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.