Q2 Holdings, Inc. (NYSE:QTWO) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 32.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,616,825 shares of the technology company’s stock after buying an additional 391,539 shares during the period. Jennison Associates LLC’s holdings in Q2 were worth $70,186,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. MCF Advisors LLC increased its stake in Q2 by 156.5% during the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after buying an additional 374 shares during the period. Criterion Capital Advisors LLC acquired a new position in Q2 during the 4th quarter valued at about $152,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Q2 by 37.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,973 shares of the technology company’s stock valued at $563,000 after buying an additional 3,534 shares during the period. Conestoga Capital Advisors LLC increased its stake in Q2 by 13.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock valued at $95,650,000 after buying an additional 256,802 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Q2 by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 434,699 shares of the technology company’s stock valued at $18,870,000 after buying an additional 5,435 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Q2 from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Truist Financial reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $50.00) on shares of Q2 in a research note on Friday. Canaccord Genuity Group lifted their price objective on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their price objective on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, DA Davidson raised their target price on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Q2 has an average rating of “Moderate Buy” and an average target price of $45.33.

Q2 Price Performance

QTWO stock opened at $51.75 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a 50 day simple moving average of $48.85 and a 200 day simple moving average of $41.91. Q2 Holdings, Inc. has a 52 week low of $21.21 and a 52 week high of $53.96.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. On average, equities analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the transaction, the director now owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the transaction, the director now owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the transaction, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,452,457.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 337,639 shares of company stock worth $14,994,784. 3.60% of the stock is owned by company insiders.

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.