Maryland State Retirement & Pension System Invests $650,000 in Q2 Holdings, Inc. $QTWO

Maryland State Retirement & Pension System acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,977 shares of the technology company’s stock, valued at approximately $650,000.

Other large investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Q2 by 15.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,328 shares of the technology company’s stock worth $14,818,000 after acquiring an additional 20,643 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Q2 in the third quarter valued at approximately $1,559,000. Castleark Management LLC purchased a new stake in Q2 in the second quarter valued at approximately $5,341,000. Pembroke Management LTD lifted its stake in Q2 by 23.5% during the third quarter. Pembroke Management LTD now owns 308,521 shares of the technology company’s stock worth $22,334,000 after purchasing an additional 58,625 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Q2 during the third quarter worth $2,078,000.

Insider Activity

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the sale, the executive owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $630,627.12. Following the sale, the insider owned 269,128 shares of the company’s stock, valued at $19,829,351.04. This represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 20,883 shares of company stock worth $1,547,778. 0.31% of the stock is currently owned by insiders.

Q2 Trading Up 4.4%

Shares of NYSE:QTWO opened at $68.44 on Friday. Q2 Holdings, Inc. has a 52 week low of $58.57 and a 52 week high of $102.07. The company’s 50 day moving average is $71.51 and its two-hundred day moving average is $74.27. The company has a market cap of $4.28 billion, a PE ratio of 142.58 and a beta of 1.35.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, November 5th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The firm had revenue of $201.70 million for the quarter, compared to analyst estimates of $197.87 million. Q2 had a return on equity of 10.92% and a net margin of 4.12%.The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QTWO. Wall Street Zen upgraded Q2 from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Cantor Fitzgerald reduced their price target on shares of Q2 from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Zacks Research lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Royal Bank Of Canada cut their target price on shares of Q2 from $102.00 to $86.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. Finally, Needham & Company LLC decreased their price target on shares of Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and an average price target of $93.57.

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.