113,463 Shares in Q2 Holdings, Inc. $QTWO Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 113,463 shares of the technology company’s stock, valued at approximately $5,367,000.

Several other institutional investors also recently bought and sold shares of QTWO. Advisors Asset Management Inc. boosted its holdings in shares of Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after purchasing an additional 220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Q2 by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after buying an additional 1,525 shares during the period. Goldman Sachs Group Inc. boosted its stake in Q2 by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after buying an additional 95,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Q2 by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock worth $14,907,000 after buying an additional 6,909 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Q2 by 592.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after buying an additional 539 shares during the period.

Q2 Stock Performance

Shares of NYSE:QTWO opened at $52.37 on Friday. The stock has a 50-day simple moving average of $46.86 and a 200-day simple moving average of $53.99. The stock has a market capitalization of $3.28 billion, a P/E ratio of 46.76 and a beta of 1.33. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $95.10.

Q2 (NYSE:QTWO) last announced its quarterly earnings results 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 net margin of 8.99% and a return on equity of 14.68%. The business had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts predict that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QTWO. Zacks Research downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research report on Tuesday, April 21st. Morgan Stanley set a $63.00 target price on shares of Q2 in a report on Thursday, April 30th. Stifel Nicolaus set a $70.00 price target on shares of Q2 in a research report on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average target price of $73.45.

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.