Summit Global Investments Purchases Shares of 9,647 Q2 Holdings, Inc. (NYSE:QTWO)

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

Other large investors also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $30,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $32,000. Quarry LP increased its stake in shares of Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after purchasing an additional 336 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $137,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on QTWO shares. Raymond James raised their price objective on shares of Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a research note on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Citigroup raised their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.27.

Insider Buying and Selling

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares in the company, valued at $8,396,165.36. The trade was a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,835 shares of company stock valued at $11,959,517. Company insiders own 3.00% of the company’s stock.

Q2 Trading Up 0.6 %

Q2 stock opened at $79.10 on Friday. The company has a 50 day moving average price of $87.85 and a 200 day moving average price of $90.30. Q2 Holdings, Inc. has a 52 week low of $46.50 and a 52 week high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of -121.69 and a beta of 1.62.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Research analysts forecast that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

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.