Q2 Holdings, Inc. $QTWO Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 17.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 110,167 shares of the technology company’s stock after purchasing an additional 16,469 shares during the period. Clearbridge Investments LLC’s holdings in Q2 were worth $7,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC grew its stake in shares of Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after purchasing an additional 553,713 shares during the period. Peregrine Capital Management LLC lifted its position in shares of Q2 by 48.7% during the 4th quarter. Peregrine Capital Management LLC now owns 143,243 shares of the technology company’s stock valued at $10,336,000 after acquiring an additional 46,903 shares during the period. Vanguard Group Inc. grew its holdings in Q2 by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after purchasing an additional 82,827 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Q2 by 32.9% in the third quarter. Envestnet Asset Management Inc. now owns 113,971 shares of the technology company’s stock valued at $8,250,000 after purchasing an additional 28,207 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Q2 in the fourth quarter valued at $3,080,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QTWO. Stifel Nicolaus set a $70.00 target price on shares of Q2 in a research report on Thursday, April 30th. Cantor Fitzgerald lowered their target price on Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research note on Tuesday, April 21st. Truist Financial cut their target price on shares of Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Wall Street Zen downgraded shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $75.27.

Q2 Stock Performance

QTWO opened at $44.14 on Thursday. The company’s 50 day simple moving average is $47.99 and its 200 day simple moving average is $57.10. Q2 Holdings, Inc. has a 1 year low of $42.98 and a 1 year high of $96.68. The stock has a market capitalization of $2.76 billion, a PE ratio of 39.41 and a beta of 1.34.

Q2 (NYSE:QTWO) last released its quarterly earnings data 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 firm had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, sell-side analysts expect that Q2 Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Q2 Company 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.