Q2 Holdings, Inc. $QTWO Stock Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 821,135 shares of the technology company’s stock after selling 9,579 shares during the period. William Blair Investment Management LLC owned approximately 1.33% of Q2 worth $45,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Optiver Holding B.V. boosted its holdings in Q2 by 1,578.9% during the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after acquiring an additional 600 shares during the period. Allworth Financial LP increased its stake in Q2 by 48.1% in the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after purchasing an additional 364 shares during the period. Covestor Ltd increased its stake in Q2 by 177.5% in the 3rd quarter. Covestor Ltd now owns 1,157 shares of the technology company’s stock worth $64,000 after purchasing an additional 740 shares during the period. Harbor Investment Advisory LLC bought a new stake in Q2 in the second quarter valued at approximately $61,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Q2 in the second quarter valued at approximately $71,000.

Insider Activity at Q2

In other news, General Counsel Michael Kerr sold 2,655 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $74.81, for a total value of $198,620.55. Following the completion of the sale, the general counsel directly owned 78,084 shares of the company’s stock, valued at approximately $5,841,464.04. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QTWO. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. Needham & Company LLC upped their price target on shares of Q2 from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. Finally, Robert W. Baird set a $83.00 price objective on shares of Q2 in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus price target of $78.33.

Q2 Stock Performance

Shares of Q2 stock traded up $1.07 during midday trading on Friday, reaching $74.03. 257,720 shares of the company’s stock traded hands, compared to its average volume of 864,325. The company has a market cap of $4.57 billion, a PE ratio of 43.80 and a beta of 1.36. The stock has a 50 day moving average of $63.27 and a 200-day moving average of $55.09. Q2 Holdings, Inc. has a 12 month low of $40.79 and a 12 month high of $76.37.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $225.77 million for the quarter, compared to analysts’ expectations of $221.23 million. Q2 had a net margin of 12.66% and a return on equity of 17.85%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, equities analysts anticipate that Q2 Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

About Q2

Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company’s offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.