Truvestments Capital LLC Invests $189,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Truvestments Capital LLC acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,882 shares of the technology company’s stock, valued at approximately $189,000.

Several other hedge funds have also recently made changes to their positions in QTWO. Principal Financial Group Inc. increased its position in Q2 by 38.6% in the 3rd quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company’s stock valued at $14,095,000 after buying an additional 49,233 shares in the last quarter. Versor Investments LP bought a new stake in Q2 in the 3rd quarter valued at about $590,000. Chase Investment Counsel Corp increased its position in Q2 by 4.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 48,365 shares of the technology company’s stock valued at $3,858,000 after buying an additional 1,951 shares in the last quarter. Parametrica Management Ltd bought a new stake in Q2 in the 3rd quarter valued at about $236,000. Finally, Natixis Advisors LLC increased its position in Q2 by 4.5% in the 3rd quarter. Natixis Advisors LLC now owns 17,435 shares of the technology company’s stock valued at $1,391,000 after buying an additional 744 shares in the last quarter.

Q2 Price Performance

Shares of NYSE QTWO opened at $75.25 on Thursday. Q2 Holdings, Inc. has a twelve month low of $46.50 and a twelve month high of $112.82. The stock’s 50 day moving average price is $90.88 and its 200-day moving average price is $90.15. The company has a market capitalization of $4.57 billion, a PE ratio of -115.76 and a beta of 1.62. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

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 analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, equities analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QTWO. Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Citigroup boosted their target price on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Stephens reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Baird R W downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Raymond James lifted their price target on Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.27.

Insider Transactions at Q2

In related news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction that occurred 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 owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

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.