M&T Bank Corp Has $1.43 Million Stake in Q2 Holdings, Inc. $QTWO

M&T Bank Corp boosted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 247.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,786 shares of the technology company’s stock after buying an additional 14,087 shares during the quarter. M&T Bank Corp’s holdings in Q2 were worth $1,428,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new position in Q2 during the fourth quarter worth $218,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Q2 by 4.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,378 shares of the technology company’s stock worth $1,615,000 after buying an additional 952 shares during the last quarter. Moran Wealth Management LLC increased its position in Q2 by 17.0% during the fourth quarter. Moran Wealth Management LLC now owns 10,132 shares of the technology company’s stock worth $731,000 after buying an additional 1,470 shares during the last quarter. CWM LLC increased its position in Q2 by 427.8% during the fourth quarter. CWM LLC now owns 9,859 shares of the technology company’s stock worth $711,000 after buying an additional 7,991 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Q2 by 1.3% during the fourth quarter. State of Alaska Department of Revenue now owns 31,840 shares of the technology company’s stock worth $2,297,000 after buying an additional 398 shares during the last quarter.

Q2 Price Performance

QTWO stock opened at $52.54 on Thursday. Q2 Holdings, Inc. has a 52-week low of $44.65 and a 52-week high of $96.68. The company has a 50-day moving average of $49.12 and a two-hundred day moving average of $60.70. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 66.51 and a beta of 1.42.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a net margin of 6.54% and a return on equity of 12.52%. The firm had revenue of $216.51 million for the quarter, compared to the consensus estimate of $214.36 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Equities analysts expect that Q2 Holdings, Inc. will post 1.56 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, COO Himagiri K. Mukkamala sold 1,343 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $51.35, for a total transaction of $68,963.05. Following the completion of the sale, the chief operating officer directly owned 92,910 shares in the company, valued at $4,770,928.50. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Breeden sold 6,076 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $51.35, for a total transaction of $312,002.60. Following the completion of the sale, the insider owned 84,236 shares of the company’s stock, valued at approximately $4,325,518.60. The trade was a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 411,087 shares of company stock valued at $20,702,472. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

QTWO has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research report on Tuesday, April 21st. Stephens set a $90.00 target price on shares of Q2 in a research report on Friday, January 16th. Royal Bank Of Canada lowered their target price on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. Finally, Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

About Q2

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.