TCTC Holdings LLC Buys Shares of 294 Q2 Holdings, Inc. (NYSE:QTWO)

TCTC Holdings LLC bought a new stake in Q2 Holdings, Inc. (NYSE:QTWO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 294 shares of the technology company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTWO. State Street Corp raised its position in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC raised its position in shares of Q2 by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after purchasing an additional 19,520 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Q2 by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after purchasing an additional 10,636 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Q2 by 9.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 375,700 shares of the technology company’s stock valued at $37,814,000 after purchasing an additional 31,175 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in shares of Q2 by 3.9% in the third quarter. Segall Bryant & Hamill LLC now owns 266,079 shares of the technology company’s stock valued at $21,225,000 after purchasing an additional 9,976 shares during the period.

Q2 Trading Up 1.7 %

Shares of QTWO opened at $77.19 on Tuesday. The stock has a market capitalization of $4.69 billion, a P/E ratio of -118.75 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 firm has a fifty day simple moving average of $89.34 and a two-hundred day simple moving average of $90.29. Q2 Holdings, Inc. has a twelve month low of $46.50 and a twelve month high of $112.82.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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, research analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling at Q2

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Truist Financial reissued a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Needham & Company LLC boosted their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Stephens reissued an “overweight” rating and issued a $115.00 price target on shares of Q2 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.