28,700 Shares in Q2 Holdings, Inc. $QTWO Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO) during the 3rd quarter, Holdings Channel reports. The fund acquired 28,700 shares of the technology company’s stock, valued at approximately $2,078,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Q2 in the second quarter worth about $60,466,000. American Century Companies Inc. lifted its stake in Q2 by 60.5% in the 2nd quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock valued at $102,303,000 after purchasing an additional 411,930 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Q2 by 18.1% in the second quarter. Ameriprise Financial Inc. now owns 1,104,722 shares of the technology company’s stock valued at $103,391,000 after buying an additional 169,470 shares in the last quarter. Invesco Ltd. grew its stake in shares of Q2 by 4.8% during the second quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock worth $262,390,000 after buying an additional 128,387 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Q2 by 24.2% during the second quarter. Handelsbanken Fonder AB now owns 525,216 shares of the technology company’s stock worth $49,155,000 after buying an additional 102,300 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QTWO shares. Cantor Fitzgerald cut their price objective on Q2 from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC reduced their price target on Q2 from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Finally, UBS Group set a $90.00 target price on shares of Q2 in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.36.

Insider Activity

In other Q2 news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $222,808.32. Following the transaction, the chief operating officer directly owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $75.46, for a total transaction of $386,581.58. Following the sale, the executive directly owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 20,883 shares of company stock valued at $1,547,778 in the last ninety days. 0.31% of the stock is owned by company insiders.

Q2 Price Performance

Shares of QTWO stock opened at $70.58 on Friday. The stock has a market capitalization of $4.41 billion, a PE ratio of 147.04 and a beta of 1.35. The business’s 50 day simple moving average is $71.83 and its 200 day simple moving average is $75.80. Q2 Holdings, Inc. has a one year low of $58.57 and a one year high of $102.07.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share 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 the consensus estimate of $197.87 million. Q2 had a return on equity of 10.92% and a net margin of 4.12%.Q2’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) EPS. As a group, research analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.