Lisanti Capital Growth LLC Acquires 89,815 Shares of Q2 Holdings, Inc. $QTWO

Lisanti Capital Growth LLC purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 89,815 shares of the technology company’s stock, valued at approximately $4,979,000. Q2 accounts for about 1.3% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hohimer Wealth Management LLC lifted its position in Q2 by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,693 shares of the technology company’s stock valued at $260,000 after acquiring an additional 153 shares in the last quarter. Allworth Financial LP increased its holdings in Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after purchasing an additional 364 shares in the last quarter. Versant Capital Management Inc increased its holdings in Q2 by 45.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock worth $76,000 after purchasing an additional 489 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Q2 by 42.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock worth $78,000 after purchasing an additional 495 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Q2 by 0.5% in the 1st quarter. Swiss National Bank now owns 123,700 shares of the technology company’s stock valued at $5,851,000 after purchasing an additional 600 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on QTWO. Morgan Stanley boosted their target price on Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. DA Davidson reiterated a “buy” rating and issued a $82.00 price target on shares of Q2 in a research note on Thursday, July 23rd. Stifel Nicolaus upped their price target on shares of Q2 from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Needham & Company LLC raised their price objective on Q2 from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.33.

Insider Buying and Selling

In other Q2 news, General Counsel Michael Kerr sold 636 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $60.96, for a total transaction of $38,770.56. Following the completion of the transaction, the general counsel owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.88% of the company’s stock.

Q2 Stock Performance

Shares of QTWO opened at $74.29 on Thursday. Q2 Holdings, Inc. has a 52-week low of $40.79 and a 52-week high of $76.37. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 42.56 and a beta of 1.36. The business’s fifty day moving average is $62.89 and its 200-day moving average is $55.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $225.77 million during the quarter, compared to the consensus estimate of $221.23 million. Q2 had a return on equity of 17.85% and a net margin of 12.66%. Q2’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. As a group, research analysts forecast that Q2 Holdings, Inc. will post 1.88 EPS for the current fiscal year.

About Q2

Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company’s offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.