Q2 Holdings, Inc. $QTWO Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 21.1% in the 1st quarter, Holdings Channel reports. The firm owned 293,972 shares of the technology company’s stock after selling 78,494 shares during the quarter. Bessemer Group Inc.’s holdings in Q2 were worth $13,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in Q2 during the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Q2 in the second quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new stake in Q2 in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Q2 during the fourth quarter valued at $27,000. Finally, Quarry LP grew its position in shares of Q2 by 92.5% during the third quarter. Quarry LP now owns 697 shares of the technology company’s stock worth $50,000 after acquiring an additional 335 shares during the last quarter.

Q2 Stock Down 1.1%

Shares of NYSE QTWO opened at $54.95 on Friday. The stock has a market cap of $3.44 billion, a P/E ratio of 49.06 and a beta of 1.33. The firm’s 50-day simple moving average is $47.45 and its 200 day simple moving average is $52.52. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $92.66.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The company had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on QTWO shares. Stifel Nicolaus set a $70.00 price objective on shares of Q2 in a research report on Thursday, April 30th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Q2 in a research report on Monday, June 1st. 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 note on Monday, June 22nd. Morgan Stanley set a $63.00 price target on Q2 in a report on Thursday, April 30th. Finally, 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. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.