Truvestments Capital LLC Buys Shares of 1,882 Q2 Holdings, Inc. (NYSE:QTWO)

Truvestments Capital LLC bought a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,882 shares of the technology company’s stock, valued at approximately $189,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Highland Capital Management LLC raised its holdings in Q2 by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after acquiring an additional 172 shares during the period. Arizona State Retirement System raised its holdings in Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after acquiring an additional 190 shares during the period. Moran Wealth Management LLC raised its holdings in Q2 by 2.7% during the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after acquiring an additional 215 shares during the period. Parallax Volatility Advisers L.P. raised its holdings in Q2 by 5.5% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock valued at $443,000 after acquiring an additional 288 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Q2 during the 4th quarter valued at $30,000.

Q2 Stock Up 1.9 %

Shares of NYSE:QTWO opened at $75.25 on Thursday. Q2 Holdings, Inc. has a 52-week low of $46.50 and a 52-week high of $112.82. The firm has a fifty day moving average of $90.88 and a 200 day moving average of $90.15. The firm has a market capitalization of $4.57 billion, a PE ratio of -115.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40.

Q2 (NYSE:QTWO) last posted 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%. As a group, research analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Raymond James upped their price target on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.27.

Insider Buying and Selling 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 transaction of $87,960.00. Following the completion of the sale, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now 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. Company insiders own 3.00% of the company’s stock.

About Q2

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.