First Mercantile Trust Co. increased its position in shares of Q2 Holdings Inc (NYSE:QTWO) by 249.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,555 shares of the technology company’s stock after buying an additional 5,395 shares during the period. First Mercantile Trust Co.’s holdings in Q2 Holdings were worth $263,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Q2 Holdings by 85.0% in the third quarter. Wells Fargo & Company MN now owns 3,258,617 shares of the technology company’s stock worth $93,392,000 after buying an additional 1,497,182 shares during the last quarter. Osterweis Capital Management Inc. boosted its stake in Q2 Holdings by 76.0% in the fourth quarter. Osterweis Capital Management Inc. now owns 143,965 shares of the technology company’s stock worth $4,153,000 after buying an additional 62,165 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Q2 Holdings during the fourth quarter worth $2,952,000. New York State Common Retirement Fund boosted its stake in Q2 Holdings by 4.7% in the third quarter. New York State Common Retirement Fund now owns 320,315 shares of the technology company’s stock worth $9,180,000 after buying an additional 14,290 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Q2 Holdings by 37.5% in the fourth quarter. Macquarie Group Ltd. now owns 377,492 shares of the technology company’s stock worth $10,891,000 after buying an additional 102,941 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Institutional Ownership by Quarter for Q2 Holdings (NYSE:QTWO)

Q2 Holdings Inc (NYSE:QTWO) traded up 2.22% during midday trading on Friday, reaching $39.10. The company’s stock had a trading volume of 43,235 shares. The company’s 50-day moving average is $37.32 and its 200 day moving average is $33.30. Q2 Holdings Inc has a 52 week low of $22.15 and a 52 week high of $39.70. The firm’s market capitalization is $1.60 billion.

Q2 Holdings (NYSE:QTWO) last released its earnings results on Wednesday, May 3rd. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. Q2 Holdings had a negative net margin of 26.91% and a negative return on equity of 24.27%. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $44.37 million. During the same period in the prior year, the business earned ($271.00) earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts expect that Q2 Holdings Inc will post ($0.11) earnings per share for the current fiscal year.

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A number of analysts have commented on QTWO shares. BTIG Research raised Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday. Needham & Company LLC lifted their price target on Q2 Holdings from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Craig Hallum set a $45.00 price objective on Q2 Holdings and gave the company a “buy” rating in a report on Friday, February 17th. Canaccord Genuity reissued a “buy” rating and issued a $43.00 price objective on shares of Q2 Holdings in a report on Friday, May 5th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price objective on shares of Q2 Holdings in a report on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.86.

In other news, insider Adam D. Anderson sold 43,952 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $38.38, for a total transaction of $1,686,877.76. Following the sale, the insider now owns 65,805 shares in the company, valued at $2,525,595.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl James Schaper sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $34.81, for a total transaction of $696,200.00. Following the sale, the director now owns 20,855 shares in the company, valued at approximately $725,962.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 951,612 shares of company stock valued at $33,660,920. Company insiders own 38.10% of the company’s stock.

About Q2 Holdings

Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.

5 Day Chart for NYSE:QTWO

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