Champlain Investment Partners LLC grew its position in Q2 Holdings Inc (NYSE:QTWO) by 1.4% during the 1st quarter, Holdings Channel reports. The firm owned 1,270,670 shares of the technology company’s stock after purchasing an additional 17,400 shares during the period. Champlain Investment Partners LLC’s holdings in Q2 were worth $88,007,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTWO. Oppenheimer Asset Management Inc. lifted its position in shares of Q2 by 33.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,565 shares of the technology company’s stock worth $277,000 after buying an additional 1,398 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Q2 by 48.9% in the fourth quarter. Rhumbline Advisers now owns 49,136 shares of the technology company’s stock worth $2,435,000 after buying an additional 16,146 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Q2 by 36.7% in the fourth quarter. Victory Capital Management Inc. now owns 738,399 shares of the technology company’s stock worth $36,587,000 after buying an additional 198,345 shares in the last quarter. Columbus Circle Investors lifted its position in shares of Q2 by 23.0% in the fourth quarter. Columbus Circle Investors now owns 371,081 shares of the technology company’s stock worth $18,387,000 after buying an additional 69,467 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Q2 by 15.7% in the fourth quarter. Jennison Associates LLC now owns 460,532 shares of the technology company’s stock worth $22,819,000 after buying an additional 62,587 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP John E. Breeden sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $68.57, for a total value of $342,850.00. Following the transaction, the executive vice president now owns 75,838 shares of the company’s stock, valued at $5,200,211.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jennifer Noel Harris sold 15,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $70.22, for a total value of $1,053,300.00. Following the completion of the transaction, the chief financial officer now directly owns 129,865 shares in the company, valued at approximately $9,119,120.30. The disclosure for this sale can be found here. In the last three months, insiders sold 493,108 shares of company stock worth $34,520,986. 17.90% of the stock is owned by insiders.
A number of research firms recently commented on QTWO. Zacks Investment Research upgraded Q2 from a “hold” rating to a “strong-buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, May 1st. Stephens cut Q2 from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $76.00 to $73.00 in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. William Blair began coverage on Q2 in a research note on Monday, April 1st. They set an “outperform” rating and a $69.71 price objective on the stock. Wells Fargo & Co boosted their price objective on Q2 from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, KeyCorp boosted their price objective on Q2 from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Q2 has an average rating of “Buy” and an average target price of $71.04.
QTWO opened at $73.99 on Thursday. The company has a market cap of $3.15 billion, a PE ratio of -199.97 and a beta of 1.48. Q2 Holdings Inc has a one year low of $43.41 and a one year high of $76.08. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.40.
Q2 (NYSE:QTWO) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.21). The business had revenue of $71.30 million for the quarter, compared to the consensus estimate of $70.67 million. Q2 had a negative net margin of 18.89% and a negative return on equity of 16.48%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. As a group, equities research analysts predict that Q2 Holdings Inc will post -0.64 earnings per share for the current year.
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Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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