275,452 Q2 Holdings, Inc. $QTWO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Q2 Holdings stake by 93.4% in the third quarter, selling 275,452 shares and retaining 19,559 shares valued at approximately $1.08 million.
• Q2 reported quarterly revenue of $219.77 million, up 12.6% year over year, and earnings of $0.70 per share, exceeding analyst expectations of $0.68.
• Analyst sentiment remains positive but mixed, with a consensus “Moderate Buy” rating and an average price target of $74.83; Q2 shares recently opened at $69.20.

Assenagon Asset Management S.A. cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 93.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,559 shares of the technology company's stock after selling 275,452 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Q2 were worth $1,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of QTWO. Wellington Management Group LLP increased its stake in Q2 by 9.0% in the 2nd quarter. Wellington Management Group LLP now owns 353,484 shares of the technology company's stock valued at $17,003,000 after buying an additional 29,075 shares during the period. Entropy Technologies LP lifted its position in Q2 by 864.9% in the 1st quarter. Entropy Technologies LP now owns 26,902 shares of the technology company's stock worth $1,272,000 after buying an additional 24,114 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Q2 by 22.4% during the 2nd quarter. Tidal Investments LLC now owns 251,079 shares of the technology company's stock valued at $12,077,000 after buying an additional 45,927 shares during the period. Smith Group Asset Management LLC acquired a new stake in shares of Q2 during the 1st quarter valued at $1,422,000. Finally, Fifth Third Bancorp boosted its stake in shares of Q2 by 27,165.5% during the 1st quarter. Fifth Third Bancorp now owns 257,114 shares of the technology company's stock valued at $12,161,000 after buying an additional 256,171 shares during the period.

Insider Buying and Selling at Q2

In other Q2 news, CFO Jonathan Price sold 77,180 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares in the company, valued at $13,643,564.43. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the general counsel owned 80,739 shares in the company, valued at approximately $4,921,849.44. The trade was a 0.78% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 87,816 shares of company stock valued at $5,740,968 in the last ninety days. Company insiders own 0.88% of the company's stock.

Q2 Stock Performance

Q2 stock opened at $69.20 on Friday. Q2 Holdings, Inc. has a 52 week low of $40.79 and a 52 week high of $76.24. The firm has a market capitalization of $4.31 billion, a PE ratio of 40.25 and a beta of 1.34. The business's 50-day simple moving average is $60.92 and its 200-day simple moving average is $54.26.

Q2 (NYSE:QTWO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The firm had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts forecast that Q2 Holdings, Inc. will post 1.80 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on QTWO. Wall Street Zen lowered Q2 from a "buy" rating to a "hold" rating in a report on Sunday, October 18th. UBS Group set a $68.00 price objective on Q2 in a research report on Friday, July 31st. Needham & Company LLC boosted their target price on Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised Q2 from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Finally, Zacks Research lowered 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 issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Q2 currently has a consensus rating of "Moderate Buy" and an average target price of $74.83.

About Q2

Q2 Holdings, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help these organizations deliver digital banking experiences, manage customer relationships and expand access to financial services through online and mobile channels.

The company's products and services include digital banking, account opening, lending and loan origination, payments, data and analytics, financial crime prevention, and tools for managing customer engagement.

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