3,510 Shares in Q2 Holdings, Inc. (NYSE:QTWO) Bought by PDT Partners LLC

PDT Partners LLC acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,510 shares of the technology company's stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QTWO. William Blair Investment Management LLC acquired a new stake in shares of Q2 in the fourth quarter valued at $202,645,000. Massachusetts Financial Services Co. MA increased its stake in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock worth $135,449,000 after purchasing an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock valued at $75,025,000 after purchasing an additional 655,838 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Q2 by 893.5% during the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock worth $47,459,000 after buying an additional 424,062 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Q2 by 208.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 381,094 shares of the technology company's stock valued at $38,357,000 after buying an additional 257,652 shares during the period.

Insider Activity at Q2

In related news, CEO Matthew P. Flake sold 56,799 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares of the company's stock, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,858 shares of company stock valued at $14,853,965. Company insiders own 3.00% of the company's stock.

Q2 Stock Performance

Shares of NYSE QTWO traded up $10.38 during midday trading on Thursday, reaching $90.69. 680,854 shares of the company were exchanged, compared to its average volume of 740,045. Q2 Holdings, Inc. has a 1 year low of $55.97 and a 1 year high of $112.82. The stock has a fifty day simple moving average of $77.30 and a 200 day simple moving average of $90.04. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5.65 billion, a P/E ratio of -139.32 and a beta of 1.47.

Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, research analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QTWO shares. Raymond James increased their price objective on Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Truist Financial reissued a "buy" rating and set a $110.00 price objective (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Robert W. Baird lifted their price target on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday. The Goldman Sachs Group dropped their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Compass Point reaffirmed a "neutral" rating and set a $60.00 price objective on shares of Q2 in a research report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.