Strs Ohio Reduces Stock Holdings in Q2 Holdings, Inc. $QTWO

Strs Ohio lowered its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 25.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the technology company’s stock after selling 10,500 shares during the quarter. Strs Ohio’s holdings in Q2 were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in 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 last quarter. Capital Research Global Investors lifted its holdings in shares of Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after buying an additional 1,454,076 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Q2 by 25.9% in 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 buying an additional 553,713 shares during the last quarter. Wasatch Advisors LP boosted its stake 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 worth $156,221,000 after buying an additional 60,016 shares during the last quarter. Finally, North Reef Capital Management LP grew its holdings in 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 acquiring an additional 849,480 shares during the period.

Q2 Stock Up 1.1%

QTWO opened at $54.01 on Wednesday. The company has a market cap of $3.38 billion, a PE ratio of 48.23 and a beta of 1.33. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $95.10. The company has a 50-day moving average price of $47.07 and a 200 day moving average price of $53.58.

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

Analyst Ratings Changes

A number of research analysts have issued reports on QTWO shares. Morgan Stanley set a $63.00 price target on Q2 in a report on Thursday, April 30th. UBS Group set a $77.00 price objective on shares of Q2 in a research note on Thursday, April 30th. DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of Q2 in a research note on Monday, June 1st. Robert W. Baird set a $74.00 price target on shares of Q2 in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.45.

Q2 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.