Prescott Group Capital Management L.L.C. Continues to Hold Position in Q2 Holdings, Inc. (NYSE:QTWO)
Prescott Group Capital Management L.L.C. maintained its stake in Q2 Holdings, Inc. (NYSE:QTWO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,000 shares of the technology company’s stock at the end of the second quarter. Prescott Group Capital Management L.L.C.’s holdings in Q2 Holdings were worth $2,956,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of 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. Highbridge Capital Management LLC purchased a new position in shares of Q2 Holdings during the fourth quarter worth approximately $235,000. State Street Corp raised its position in shares of Q2 Holdings by 7.4% in the fourth quarter. State Street Corp now owns 450,219 shares of the technology company’s stock worth $12,987,000 after buying an additional 30,998 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Q2 Holdings by 249.8% in the first quarter. First Mercantile Trust Co. now owns 7,555 shares of the technology company’s stock worth $263,000 after buying an additional 5,395 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Q2 Holdings during the first quarter worth approximately $2,255,000. Institutional investors and hedge funds own 93.74% of the company’s stock.
Q2 Holdings, Inc. (NYSE QTWO) traded down 1.94% on Friday, hitting $37.95. The stock had a trading volume of 77,371 shares. The firm’s market capitalization is $1.55 billion. Q2 Holdings, Inc. has a 1-year low of $25.23 and a 1-year high of $40.50. The company’s 50 day moving average is $38.06 and its 200-day moving average is $35.89.
Q2 Holdings (NYSE:QTWO) last posted its earnings results on Wednesday, May 3rd. The technology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $44.37 million. Q2 Holdings had a negative net margin of 20.96% and a negative return on equity of 23.21%. The company’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($271.00) earnings per share. On average, analysts forecast that Q2 Holdings, Inc. will post ($0.12) EPS for the current year.
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A number of research analysts have commented on QTWO shares. BTIG Research upgraded Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Friday, May 5th. Canaccord Genuity reiterated a “buy” rating and issued a $43.00 price objective on shares of Q2 Holdings in a research report on Friday, May 5th. ValuEngine upgraded Q2 Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. started coverage on Q2 Holdings in a research report on Monday, June 26th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $44.00 price objective (up from $42.00) on shares of Q2 Holdings in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Q2 Holdings presently has an average rating of “Buy” and an average price target of $40.50.
In related news, EVP John E. Breeden sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $38.22, for a total value of $286,650.00. Following the sale, the executive vice president now owns 51,199 shares of the company’s stock, valued at $1,956,825.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $37.63, for a total transaction of $37,630.00. Following the completion of the sale, the director now directly owns 6,043 shares in the company, valued at approximately $227,398.09. The disclosure for this sale can be found here. In the last three months, insiders sold 417,646 shares of company stock worth $15,895,380. 24.50% of the stock is currently owned by insiders.
Q2 Holdings Company Profile
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.
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