42,688 Shares in Q2 Holdings, Inc. $QTWO Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC opened a new position in Q2 Holdings, buying 42,688 shares worth about $3.08 million in the fourth quarter.
• Other institutional investors were active in the stock as well, with William Blair Investment Management boosting its Q2 stake by 25.9% and several firms either adding to or starting positions.
• Analyst sentiment remains mixed but positive overall: Q2 has a Moderate Buy consensus with an average price target of $75.27, though some firms have recently lowered targets and one downgraded the stock to hold.

New Age Alpha Advisors LLC purchased a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 42,688 shares of the technology company's stock, valued at approximately $3,080,000. New Age Alpha Advisors LLC owned approximately 0.07% of Q2 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its position in shares of Q2 by 25.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company's stock valued at $194,451,000 after buying an additional 553,713 shares during the period. Global Retirement Partners LLC boosted its position in shares of Q2 by 2,831.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,378 shares of the technology company's stock valued at $99,000 after buying an additional 1,331 shares during the period. Peirce Capital Management LLC purchased a new position in shares of Q2 during the fourth quarter valued at approximately $469,000. PNC Financial Services Group Inc. boosted its position in shares of Q2 by 6.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,195 shares of the technology company's stock valued at $447,000 after buying an additional 374 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Q2 by 3.4% during the fourth quarter. ProShare Advisors LLC now owns 12,210 shares of the technology company's stock valued at $881,000 after buying an additional 402 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on QTWO. Royal Bank Of Canada dropped their target price on Q2 from $86.00 to $67.00 and set a "sector perform" rating for the company in a research report on Thursday, February 12th. Cantor Fitzgerald dropped their target price on Q2 from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, February 12th. UBS Group set a $77.00 target price on Q2 in a research report on Thursday, April 30th. Zacks Research lowered Q2 from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Q2 in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $75.27.

Insider Transactions at Q2

In related news, insider John E. Breeden sold 6,076 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $51.35, for a total value of $312,002.60. Following the completion of the transaction, the insider owned 84,236 shares of the company's stock, valued at $4,325,518.60. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 20,613 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $51.35, for a total transaction of $1,058,477.55. Following the completion of the transaction, the chief executive officer directly owned 483,202 shares of the company's stock, valued at $24,812,422.70. This trade represents a 4.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 411,484 shares of company stock valued at $20,720,329 in the last ninety days. Corporate insiders own 0.88% of the company's stock.

Q2 Stock Performance

Shares of NYSE QTWO opened at $45.46 on Wednesday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 40.59 and a beta of 1.39. The stock has a 50 day moving average price of $48.32 and a 200 day moving average price of $59.05. Q2 Holdings, Inc. has a 52-week low of $44.46 and a 52-week high of $96.68.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). The firm had revenue of $216.51 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Analysts forecast that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.