Trek Financial LLC Purchases New Shares in Q2 Holdings, Inc. (NYSE:QTWO)

Trek Financial LLC acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 3,436 shares of the technology company’s stock, valued at approximately $346,000.

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

Q2 Stock Down 2.0 %

Shares of QTWO opened at $68.94 on Tuesday. The company’s 50-day simple moving average is $84.71 and its 200-day simple moving average is $90.83. 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 Holdings, Inc. has a 1 year low of $49.56 and a 1 year high of $112.82. The stock has a market capitalization of $4.19 billion, a PE ratio of -106.05 and a beta of 1.61.

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

Insider Activity

In other news, Director James Offerdahl sold 1,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan Price sold 42,652 shares of Q2 stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total value of $3,172,029.24. Following the sale, the chief financial officer now directly owns 209,378 shares of the company’s stock, valued at $15,571,441.86. This trade represents a 16.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,858 shares of company stock worth $14,853,965. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on QTWO shares. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group lowered their price target on shares of Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup raised their price target on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $102.33.

Q2 Profile

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.