Mid Atlantic Financial Management Inc. ADV acquired a new position in shares of Q2 Holdings Inc (NYSE:QTWO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,830 shares of the technology company’s stock, valued at approximately $243,000.
A number of other large investors have also recently bought and sold shares of QTWO. Raymond James & Associates lifted its holdings in Q2 by 23.8% during the 1st quarter. Raymond James & Associates now owns 16,597 shares of the technology company’s stock worth $980,000 after buying an additional 3,189 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Q2 by 65.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,579 shares of the technology company’s stock valued at $1,097,000 after acquiring an additional 7,370 shares during the last quarter. Strs Ohio raised its position in shares of Q2 by 20.5% during the 1st quarter. Strs Ohio now owns 5,300 shares of the technology company’s stock valued at $313,000 after acquiring an additional 900 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Q2 during the 1st quarter valued at $87,000. Finally, Brinker Capital Inc. bought a new stake in shares of Q2 during the 1st quarter valued at $771,000.
Several brokerages have commented on QTWO. Piper Sandler upped their target price on shares of Q2 from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Gabelli cut shares of Q2 from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research report on Tuesday, August 11th. BTIG Research cut shares of Q2 from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. TheStreet upgraded shares of Q2 from a “d+” rating to a “c” rating in a research report on Tuesday, June 9th. Finally, Wells Fargo & Co upped their price objective on shares of Q2 from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Q2 has a consensus rating of “Buy” and an average price target of $98.63.
Q2 stock opened at $98.38 on Wednesday. The firm has a 50-day moving average of $92.79 and a 200-day moving average of $80.05. Q2 Holdings Inc has a one year low of $47.17 and a one year high of $106.44. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.88 and a current ratio of 3.88.
Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.36. Q2 had a negative net margin of 30.10% and a negative return on equity of 5.59%. Analysts forecast that Q2 Holdings Inc will post -0.86 EPS for the current year.
In related news, Director R. H. Seale sold 88,177 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $80.45, for a total value of $7,093,839.65. Following the completion of the sale, the director now directly owns 8,855 shares in the company, valued at approximately $712,384.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Flake sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.24, for a total transaction of $822,400.00. Following the completion of the sale, the chief executive officer now owns 279,541 shares of the company’s stock, valued at $22,989,451.84. The disclosure for this sale can be found here. Insiders sold a total of 378,371 shares of company stock valued at $31,327,683 over the last quarter. 9.00% of the stock is currently owned by company insiders.
Q2 Company Profile
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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