Rockefeller Capital Management L.P. Sells 199,718 Shares of Q2 Holdings, Inc. $QTWO

Rockefeller Capital Management L.P. reduced its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 513,970 shares of the technology company’s stock after selling 199,718 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.82% of Q2 worth $37,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QTWO. Vanguard Group Inc. lifted its holdings in Q2 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after buying an additional 82,827 shares in the last quarter. Capital Research Global Investors raised its position in shares of Q2 by 86.2% during the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after acquiring an additional 1,454,076 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after acquiring an additional 553,713 shares during the period. Wasatch Advisors LP lifted its stake in shares of Q2 by 2.9% during the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock valued at $156,221,000 after acquiring an additional 60,016 shares during the period. Finally, North Reef Capital Management LP boosted its holdings in Q2 by 101.1% in the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock valued at $122,339,000 after acquiring an additional 849,480 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on QTWO shares. Morgan Stanley set a $63.00 price objective on Q2 in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of Q2 from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Zacks Research downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $75.27.

Q2 Stock Up 0.1%

Shares of Q2 stock opened at $42.90 on Monday. The business has a fifty day simple moving average of $47.38 and a 200 day simple moving average of $55.71. The stock has a market cap of $2.69 billion, a PE ratio of 38.30 and a beta of 1.34. Q2 Holdings, Inc. has a 12 month low of $42.28 and a 12 month high of $96.68.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). The company had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Analysts expect that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal 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.