Wasatch Advisors LP Lowers Holdings in Q2 Holdings, Inc. $QTWO

Wasatch Advisors LP decreased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 99.3% during the first quarter, HoldingsChannel.com reports. The firm owned 13,367 shares of the technology company’s stock after selling 1,819,657 shares during the quarter. Wasatch Advisors LP’s holdings in Q2 were worth $632,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QTWO. California State Teachers Retirement System increased its stake in Q2 by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after purchasing an additional 194 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Q2 by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock worth $662,000 after buying an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Q2 by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock valued at $1,032,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Q2 during the second quarter valued at approximately $26,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group set a $77.00 price objective on shares of Q2 in a report on Thursday, April 30th. Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Morgan Stanley set a $63.00 price target on Q2 in a report on Thursday, April 30th. Finally, Robert W. Baird set a $74.00 price objective on Q2 in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $73.45.

Q2 Trading Up 8.4%

NYSE:QTWO opened at $47.74 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 42.63 and a beta of 1.34. The company has a 50 day simple moving average of $47.05 and a two-hundred day simple moving average of $54.84. Q2 Holdings, Inc. has a 12 month low of $40.79 and a 12 month high of $95.17.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). The firm had revenue of $216.51 million for 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%. Q2’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Research analysts forecast that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

About Q2

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.