SG Americas Securities LLC Sells 12,421 Shares of Q2 Holdings, Inc. $QTWO

SG Americas Securities LLC reduced its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 43.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,081 shares of the technology company’s stock after selling 12,421 shares during the period. SG Americas Securities LLC’s holdings in Q2 were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Q2 during the 2nd quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Q2 in the 4th quarter valued at about $27,000. Quarry LP increased its stake in shares of Q2 by 92.5% during the 3rd quarter. Quarry LP now owns 697 shares of the technology company’s stock worth $50,000 after purchasing an additional 335 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Q2 in the 3rd quarter valued at about $51,000.

Q2 Stock Up 2.3%

Shares of NYSE:QTWO opened at $54.65 on Tuesday. Q2 Holdings, Inc. has a 12-month low of $40.79 and a 12-month high of $95.10. The company’s 50 day moving average price is $46.98 and its two-hundred day moving average price is $53.72. The firm has a market cap of $3.42 billion, a PE ratio of 48.45 and a beta of 1.33.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The company had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. On average, research analysts expect that Q2 Holdings, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research report on Monday, June 1st. Stifel Nicolaus set a $70.00 target price on shares of Q2 in a report on Thursday, April 30th. Morgan Stanley set a $63.00 price target on shares of Q2 in a report on Thursday, April 30th. Finally, Zacks Research cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $73.45.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.