Fort Washington Investment Advisors Inc. OH Sells 241,837 Shares of Q2 Holdings, Inc. $QTWO

Fort Washington Investment Advisors Inc. OH lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 35.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 446,380 shares of the technology company’s stock after selling 241,837 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Q2 were worth $24,747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Q2 by 119.0% in the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock worth $57,253,000 after acquiring an additional 657,707 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Q2 by 34.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company’s stock worth $47,760,000 after acquiring an additional 259,912 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Q2 by 7.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 698,693 shares of the technology company’s stock worth $33,048,000 after acquiring an additional 50,473 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Q2 by 139.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after acquiring an additional 300,375 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Q2 during the 2nd quarter valued at about $19,639,000.

Q2 Stock Performance

NYSE:QTWO opened at $62.23 on Friday. The stock has a market capitalization of $3.88 billion, a PE ratio of 44.45 and a beta of 1.34. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $76.24. The company has a fifty day moving average of $60.77 and a two-hundred day moving average of $53.64.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. Research analysts forecast that Q2 Holdings, Inc. will post 1.80 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price target on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Piper Sandler reiterated an “overweight” rating and set a $82.00 price target on shares of Q2 in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. increased their price target on Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and an average target price of $74.83.

Insider Buying and Selling

In related news, insider Kimberly Rutledge sold 10,000 shares of Q2 stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider directly owned 113,913 shares in the company, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of Q2 stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $65.71, for a total value of $5,071,497.80. Following the completion of the sale, the chief financial officer owned 207,633 shares in the company, valued at approximately $13,643,564.43. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,816 shares of company stock worth $5,740,968 in the last 90 days. Insiders own 0.88% of the company’s stock.

Q2 Profile

Q2 Holdings, Inc is a financial technology company that provides cloud-based digital banking and lending solutions. Its software is designed primarily for banks, credit unions and other financial institutions seeking to deliver online and mobile banking services, automate financial workflows and improve engagement with consumers and businesses.

The company’s offerings include the Q2 Digital Banking Platform, which supports digital account access and financial services, as well as tools for lending, relationship pricing, profitability management and embedded finance.