Handelsbanken Fonder AB Reduces Stake in Q2 Holdings, Inc. $QTWO

Handelsbanken Fonder AB cut its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 568,016 shares of the technology company’s stock after selling 145,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Q2 were worth $40,988,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in Q2 by 0.3% during 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 during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Q2 by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock worth $1,032,000 after purchasing an additional 200 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after purchasing an additional 220 shares during the last quarter. Headlands Technologies LLC acquired a new position in Q2 during the second quarter worth $26,000. Finally, Mackenzie Financial Corp raised its holdings in Q2 by 6.4% during the third quarter. Mackenzie Financial Corp now owns 4,630 shares of the technology company’s stock worth $335,000 after purchasing an additional 280 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QTWO. Stifel Nicolaus set a $70.00 price objective on Q2 in a report on Thursday, April 30th. Morgan Stanley set a $63.00 price objective on Q2 in a report on Thursday, April 30th. Cantor Fitzgerald reduced their price objective on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on Q2 from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of Q2 in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average price target of $75.27.

Q2 Stock Performance

Q2 stock opened at $47.19 on Wednesday. The stock has a fifty day moving average of $48.72 and a two-hundred day moving average of $59.58. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 42.14 and a beta of 1.39. Q2 Holdings, Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $96.68.

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 company had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. On average, analysts forecast that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Q2

In other news, CFO Jonathan Price sold 32,156 shares of Q2 stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,599,761.00. Following the completion of the sale, the chief financial officer owned 197,135 shares of the company’s stock, valued at $9,807,466.25. The trade was a 14.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Breeden sold 68,707 shares of Q2 stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.73, for a total value of $3,554,213.11. Following the completion of the sale, the insider directly owned 90,312 shares of the company’s stock, valued at approximately $4,671,839.76. This represents a 43.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 411,484 shares of company stock valued at $20,720,329 in the last ninety days. 0.88% of the stock is owned by insiders.

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.