Assenagon Asset Management S.A. Acquires 657,707 Shares of Q2 Holdings, Inc. $QTWO

Assenagon Asset Management S.A. boosted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 119.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,210,419 shares of the technology company’s stock after acquiring an additional 657,707 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Q2 were worth $57,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of QTWO. Vanguard Group Inc. raised its position in shares of Q2 by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after purchasing an additional 82,827 shares during the period. Capital Research Global Investors boosted its holdings 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 period. William Blair Investment Management LLC boosted its holdings 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 worth $194,451,000 after acquiring an additional 553,713 shares during the period. Wasatch Advisors LP grew its position in shares of Q2 by 2.9% in the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock valued at $156,221,000 after purchasing an additional 60,016 shares during the last quarter. Finally, North Reef Capital Management LP increased its stake in shares of Q2 by 101.1% during the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after purchasing an additional 849,480 shares during the period.

Q2 Price Performance

Shares of NYSE:QTWO opened at $44.15 on Friday. The business’s 50 day simple moving average is $47.10 and its 200 day simple moving average is $54.89. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $95.17. The company has a market capitalization of $2.76 billion, a P/E ratio of 39.42 and a beta of 1.34.

Q2 (NYSE:QTWO) last announced its quarterly earnings data 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%. Q2’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on QTWO. UBS Group set a $77.00 price target on Q2 in a report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Q2 in a research report on Thursday, April 30th. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stifel Nicolaus set a $70.00 target price on shares of Q2 in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Company Profile

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.