BNP Paribas Arbitrage SA lowered its stake in Q2 Holdings Inc (NYSE:QTWO) by 38.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,393 shares of the technology company’s stock after selling 3,379 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Q2 were worth $412,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its stake in shares of Q2 by 67.4% in the second quarter. Valeo Financial Advisors LLC now owns 385 shares of the technology company’s stock valued at $29,000 after buying an additional 155 shares in the last quarter. Tortoise Index Solutions LLC acquired a new stake in shares of Q2 in the first quarter valued at about $39,000. Pearl River Capital LLC acquired a new stake in shares of Q2 in the first quarter valued at about $76,000. Marshall Wace North America L.P. grew its stake in Q2 by 82.2% during the 1st quarter. Marshall Wace North America L.P. now owns 1,800 shares of the technology company’s stock valued at $125,000 after purchasing an additional 812 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Q2 during the 1st quarter valued at approximately $145,000. Institutional investors and hedge funds own 96.44% of the company’s stock.
Shares of NYSE QTWO opened at $89.48 on Friday. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average price of $82.41 and a two-hundred day moving average price of $73.55. Q2 Holdings Inc has a fifty-two week low of $43.41 and a fifty-two week high of $93.63. The firm has a market cap of $4.26 billion, a PE ratio of -241.84 and a beta of 1.38.
Q2 (NYSE:QTWO) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Q2 had a negative return on equity of 13.40% and a negative net margin of 20.73%. The company had revenue of $77.60 million for the quarter, compared to the consensus estimate of $76.10 million. During the same quarter last year, the business posted $0.01 EPS. Q2’s quarterly revenue was up 32.0% compared to the same quarter last year. On average, analysts anticipate that Q2 Holdings Inc will post -0.66 earnings per share for the current year.
In other Q2 news, insider Matthew P. Flake sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.52, for a total transaction of $2,013,000.00. Following the transaction, the insider now owns 323,999 shares of the company’s stock, valued at approximately $26,088,399.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Odus Edward Wittenburg, Jr. sold 15,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total value of $1,209,150.00. Following the transaction, the executive vice president now directly owns 121,173 shares in the company, valued at approximately $9,767,755.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 463,537 shares of company stock worth $34,694,218. 12.80% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on QTWO shares. SunTrust Banks raised their price objective on Q2 from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Craig Hallum restated a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Q2 in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on Q2 from $78.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Compass Point started coverage on Q2 in a research note on Tuesday, August 13th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Q2 from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $79.75.
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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