Summit Global Investments Invests $971,000 in Q2 Holdings, Inc. (NYSE:QTWO)

Summit Global Investments purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,647 shares of the technology company’s stock, valued at approximately $971,000.

Several other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in Q2 in the 4th quarter valued at approximately $202,645,000. State Street Corp lifted its stake in Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Q2 by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after buying an additional 19,520 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Q2 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after buying an additional 10,636 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in Q2 by 9.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 375,700 shares of the technology company’s stock valued at $37,814,000 after buying an additional 31,175 shares in the last quarter.

Q2 Trading Up 0.6 %

QTWO stock opened at $79.10 on Friday. Q2 Holdings, Inc. has a 52 week low of $46.50 and a 52 week high of $112.82. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -121.69 and a beta of 1.62. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $87.85 and a 200-day simple moving average of $90.30.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. On average, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Activity at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the transaction, the chief executive officer now directly owns 453,849 shares of the company’s stock, valued at approximately $35,527,299.72. The trade was a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,835 shares of company stock worth $11,959,517. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QTWO. Citigroup upped their target price on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price target on Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. KeyCorp upgraded Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. Finally, Baird R W downgraded Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.27.

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.