Wasatch Advisors LP Decreases Stock Position in Q2 Holdings, Inc. $QTWO

Wasatch Advisors LP reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 99.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,367 shares of the technology company’s stock after selling 1,819,657 shares during the period. Wasatch Advisors LP’s holdings in Q2 were worth $632,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QTWO. Vanguard Group Inc. raised its holdings in Q2 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after buying an additional 82,827 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Q2 by 86.2% during the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after acquiring an additional 1,454,076 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after purchasing an additional 553,713 shares during the period. North Reef Capital Management LP grew its stake in shares of Q2 by 101.1% in the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after purchasing an additional 849,480 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 purchasing an additional 657,707 shares during the last quarter.

Analyst Ratings Changes

QTWO has been the topic of a number of research analyst reports. Morgan Stanley set a $63.00 price objective on shares of Q2 in a research report on Thursday, April 30th. UBS Group set a $77.00 target price on shares of Q2 in a research note on Thursday, April 30th. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of Q2 in a research report on Monday, June 1st. Zacks Research downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Price Performance

Shares of NYSE QTWO opened at $47.74 on Friday. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $95.17. The stock has a market cap of $2.99 billion, a P/E ratio of 42.63 and a beta of 1.34. The firm has a 50-day moving average of $47.05 and a 200 day moving average of $54.84.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business had revenue of $216.51 million during the quarter, compared to analysts’ expectations of $214.40 million. During the same quarter last year, the company posted $0.07 EPS. Q2’s revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts expect that Q2 Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Q2 Company Profile

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.