California Public Employees Retirement System Grows Position in Q2 Holdings Inc (QTWO)

California Public Employees Retirement System lifted its holdings in Q2 Holdings Inc (NYSE:QTWO) by 150.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,548 shares of the technology company’s stock after acquiring an additional 9,335 shares during the period. California Public Employees Retirement System’s holdings in Q2 were worth $887,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in QTWO. BlackRock Inc. grew its stake in Q2 by 18.6% during the second quarter. BlackRock Inc. now owns 2,462,356 shares of the technology company’s stock worth $140,477,000 after buying an additional 385,863 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Q2 during the second quarter worth about $17,720,000. Artisan Partners Limited Partnership grew its stake in Q2 by 18.5% during the second quarter. Artisan Partners Limited Partnership now owns 1,971,546 shares of the technology company’s stock worth $112,477,000 after buying an additional 308,155 shares in the last quarter. Columbus Circle Investors grew its stake in Q2 by 203.5% during the second quarter. Columbus Circle Investors now owns 362,067 shares of the technology company’s stock worth $20,656,000 after buying an additional 242,765 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Q2 by 92.9% during the second quarter. Renaissance Technologies LLC now owns 424,809 shares of the technology company’s stock worth $24,235,000 after buying an additional 204,609 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

QTWO stock opened at $52.64 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of -109.67 and a beta of 1.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 6.00 and a quick ratio of 6.00. Q2 Holdings Inc has a 12 month low of $36.25 and a 12 month high of $67.10.

Q2 (NYSE:QTWO) last posted its earnings results on Tuesday, November 6th. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. The firm had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $60.18 million. Q2 had a negative net margin of 12.88% and a negative return on equity of 13.06%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, analysts anticipate that Q2 Holdings Inc will post -0.53 EPS for the current year.

In related news, EVP John E. Breeden sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $50.33, for a total value of $377,475.00. Following the completion of the transaction, the executive vice president now owns 70,247 shares in the company, valued at approximately $3,535,531.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Matthew P. Flake sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $61.35, for a total transaction of $1,227,000.00. Following the completion of the transaction, the chief executive officer now owns 280,008 shares of the company’s stock, valued at approximately $17,178,490.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,472,477 shares of company stock valued at $86,758,418. 17.90% of the stock is owned by company insiders.

QTWO has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Q2 in a research note on Thursday, August 9th. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of Q2 in a report on Thursday, August 9th. Loop Capital increased their target price on shares of Q2 to $67.00 and gave the stock an “in-line” rating in a report on Thursday, August 9th. Needham & Company LLC increased their target price on shares of Q2 from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Craig Hallum set a $70.00 target price on shares of Q2 and gave the stock a “buy” rating in a report on Thursday, August 9th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $62.79.

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Q2 Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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