Massachusetts Financial Services Co. MA Purchases 698,464 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA lifted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 107.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,345,741 shares of the technology company’s stock after purchasing an additional 698,464 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Q2 were worth $135,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC acquired a new stake in Q2 during the fourth quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Q2 during the 4th quarter worth about $30,000. Ameliora Wealth Management Ltd. bought a new position in shares of Q2 during the 4th quarter worth about $32,000. Quarry LP boosted its position in shares of Q2 by 988.2% during the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after acquiring an additional 336 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Q2 in the fourth quarter worth about $137,000.

Q2 Stock Down 6.8 %

Shares of QTWO opened at $70.42 on Friday. The business’s fifty day moving average price is $85.20 and its two-hundred day moving average price is $90.70. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -108.33 and a beta of 1.62. Q2 Holdings, Inc. has a 52 week low of $49.56 and a 52 week high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. On average, analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Baird R W downgraded Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Truist Financial reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. KeyCorp upgraded Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective for the company in a research note on Wednesday, December 18th. Raymond James boosted their target price on shares of Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Stephens reiterated an “overweight” rating and set a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.47.

Insider Buying and Selling

In other Q2 news, CRO Michael A. Volanoski sold 15,005 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $1,112,170.60. Following the completion of the sale, the executive now owns 197,966 shares in the company, valued at approximately $14,673,239.92. The trade was a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew P. Flake sold 56,799 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares in the company, valued at $35,527,299.72. This represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock valued at $14,853,965 over the last ninety days. Insiders own 3.00% of the company’s stock.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.