Emerald Acquisition Ltd. purchased a new position in shares of Q2 Holdings Inc. (NYSE:QTWO) during the second quarter, Holdings Channel reports. The institutional investor purchased 147,945 shares of the company’s stock, valued at approximately $4,146,000. Emerald Acquisition Ltd. owned approximately 0.38% of Q2 Holdings at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its position in shares of Q2 Holdings by 75.0% in the first quarter. BlackRock Group LTD now owns 7,201 shares of the company’s stock worth $173,000 after buying an additional 3,086 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Q2 Holdings by 4.2% in the first quarter. UBS Asset Management Americas Inc. now owns 11,255 shares of the company’s stock worth $271,000 after buying an additional 455 shares during the period. Cupps Capital Management LLC increased its position in shares of Q2 Holdings by 5,427.5% in the first quarter. Cupps Capital Management LLC now owns 14,095 shares of the company’s stock worth $338,000 after buying an additional 13,840 shares during the period. Swiss National Bank increased its position in shares of Q2 Holdings by 10.5% in the second quarter. Swiss National Bank now owns 40,900 shares of the company’s stock worth $1,146,000 after buying an additional 3,900 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Q2 Holdings by 29.8% in the second quarter. California State Teachers Retirement System now owns 53,615 shares of the company’s stock worth $1,502,000 after buying an additional 12,315 shares during the period. Institutional investors and hedge funds own 89.16% of the company’s stock.
Shares of Q2 Holdings Inc. (NYSE:QTWO) traded up 0.35% during mid-day trading on Monday, hitting $28.35. The stock had a trading volume of 133,542 shares. The stock’s market cap is $1.13 billion. The firm has a 50 day moving average of $28.15 and a 200-day moving average of $25.59. Q2 Holdings Inc. has a one year low of $16.43 and a one year high of $30.73.
Q2 Holdings (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.13. Q2 Holdings had a negative return on equity of 22.39% and a negative net margin of 27.14%. The firm earned $36 million during the quarter, compared to analysts’ expectations of $35.66 million. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities research analysts expect that Q2 Holdings Inc. will post ($0.35) earnings per share for the current fiscal year.
QTWO has been the subject of a number of recent research reports. RBC Capital Markets reiterated an “outperform” rating and set a $31.00 price objective (up from $27.00) on shares of Q2 Holdings in a research note on Friday, August 5th. Zacks Investment Research raised Q2 Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Royal Bank Of Canada boosted their price target on Q2 Holdings from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Needham & Company LLC began coverage on Q2 Holdings in a report on Tuesday, June 21st. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Morgan Stanley began coverage on Q2 Holdings in a report on Monday, July 25th. They issued an “equal weight” rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $30.50.
In other Q2 Holdings news, SVP Barry G. Benton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $28.27, for a total value of $28,270.00. Following the sale, the senior vice president now directly owns 15,723 shares of the company’s stock, valued at $444,489.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John E. Breeden sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $25.76, for a total value of $128,800.00. Following the completion of the sale, the executive vice president now directly owns 43,470 shares in the company, valued at $1,119,787.20. The disclosure for this sale can be found here. Corporate insiders own 38.10% of the company’s stock.
About Q2 Holdings
Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.
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