Rockefeller Capital Management L.P. Has $37.09 Million Stock Holdings in Q2 Holdings, Inc. $QTWO

Rockefeller Capital Management L.P. trimmed its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 513,970 shares of the technology company’s stock after selling 199,718 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Q2 were worth $37,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC bought a new stake in shares of Q2 in the 4th quarter valued at $246,000. MidFirst Bank bought a new position in Q2 during the fourth quarter worth about $200,000. Invesco Ltd. grew its stake in Q2 by 25.6% in the fourth quarter. Invesco Ltd. now owns 232,072 shares of the technology company’s stock valued at $16,746,000 after acquiring an additional 47,274 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Q2 in the fourth quarter valued at about $257,000. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Q2 by 1.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 27,424 shares of the technology company’s stock worth $1,979,000 after acquiring an additional 352 shares in the last quarter.

Q2 Trading Up 0.1%

QTWO stock opened at $42.90 on Monday. The stock has a 50-day moving average price of $47.38 and a two-hundred day moving average price of $55.71. Q2 Holdings, Inc. has a 1 year low of $42.28 and a 1 year high of $96.68. The stock has a market cap of $2.69 billion, a PE ratio of 38.30 and a beta of 1.34.

Q2 (NYSE:QTWO) last issued its quarterly earnings results 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 for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. On average, analysts forecast that Q2 Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QTWO shares. JPMorgan Chase & Co. raised their price target on Q2 from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. UBS Group set a $77.00 price objective on Q2 in a research report on Thursday, April 30th. Stifel Nicolaus set a $70.00 target price on Q2 in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.27.

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.