Teachers Retirement System of The State of Kentucky Acquires 32,134 Shares of Q2 Holdings, Inc. $QTWO

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 206.6% in the first quarter, HoldingsChannel reports. The firm owned 47,684 shares of the technology company’s stock after acquiring an additional 32,134 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Q2 were worth $2,256,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of QTWO. California State Teachers Retirement System boosted its stake in Q2 by 0.3% in the second quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock worth $5,226,000 after purchasing an additional 194 shares in the last quarter. Maryland State Retirement & Pension System increased 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 valued at $662,000 after buying an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Q2 by 1.4% in 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 in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Q2 by 35.0% in 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 position in shares of Q2 in the second quarter valued at about $26,000.

Q2 Stock Down 1.2%

Shares of QTWO opened at $52.04 on Wednesday. The stock’s fifty day simple moving average is $47.19 and its 200-day simple moving average is $52.78. The firm has a market capitalization of $3.26 billion, a PE ratio of 46.46 and a beta of 1.33. Q2 Holdings, Inc. has a 12-month low of $40.79 and a 12-month 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 analyst estimates of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.Q2’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. Analysts anticipate that Q2 Holdings, Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of Q2 in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group set a $77.00 target price on shares of Q2 in a research 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 on the stock in a research report on Monday, June 22nd. Finally, Robert W. Baird set a $74.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.45.

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.