Cim Investment Management Inc. Grows Stock Position in Q2 Holdings, Inc. $QTWO

Cim Investment Management Inc. raised its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 100.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,713 shares of the technology company’s stock after buying an additional 6,882 shares during the quarter. Cim Investment Management Inc.’s holdings in Q2 were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Q2 in the second quarter worth approximately $26,000. WPG Advisers LLC acquired a new position in shares of Q2 in the 1st quarter valued at $35,000. SVB Wealth LLC purchased a new stake in shares of Q2 during the 1st quarter valued at $58,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after buying an additional 539 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Q2 during the 1st quarter worth $64,000.

Q2 Stock Performance

Q2 stock opened at $75.30 on Friday. The firm has a market capitalization of $4.71 billion, a PE ratio of 156.88 and a beta of 1.37. Q2 Holdings, Inc. has a one year low of $58.57 and a one year high of $108.51. The stock’s 50 day moving average price is $67.50 and its 200 day moving average price is $78.08.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $0.23 earnings per share (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 analysts’ expectations of $197.87 million. Q2 had a net margin of 4.12% and a return on equity of 10.92%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.20) EPS. On average, analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In other Q2 news, insider Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $630,627.12. Following the completion of the transaction, the insider directly owned 269,128 shares of the company’s stock, valued at $19,829,351.04. This represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael S. Kerr sold 967 shares of Q2 stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the sale, the general counsel directly owned 56,228 shares in the company, valued at approximately $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 21,850 shares of company stock worth $1,627,653. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QTWO shares. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Royal Bank Of Canada reduced their price objective on Q2 from $102.00 to $86.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their target price on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Stifel Nicolaus cut their price target on shares of Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Finally, UBS Group set a $90.00 price objective on shares of Q2 in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.40.

Q2 Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.