Assenagon Asset Management S.A. Lowers Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• Assenagon Asset Management cut its Q2 Holdings stake by 75.6% in the second quarter, selling 915,408 shares and retaining 295,011 shares worth approximately $14.19 million.
• Despite Assenagon’s reduction, several major institutions—including Capital Research, William Blair, Wasatch Advisors, and Ameriprise—expanded their Q2 holdings.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $74 price target. Q2 also exceeded quarterly earnings and revenue expectations, reporting $0.70 EPS and $219.77 million in revenue.

Assenagon Asset Management S.A. decreased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 75.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,011 shares of the technology company's stock after selling 915,408 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.47% of Q2 worth $14,190,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Q2 by 1.0% in the 4th 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 in the last quarter. Capital Research Global Investors boosted its position in Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company's stock valued at $226,658,000 after acquiring an additional 1,454,076 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Q2 by 25.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company's stock valued at $194,451,000 after acquiring an additional 553,713 shares during the period. Wasatch Advisors LP increased its holdings in shares of Q2 by 2.9% in the 3rd quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company's stock valued at $156,221,000 after acquiring an additional 60,016 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Q2 by 18.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,104,722 shares of the technology company's stock valued at $103,391,000 after acquiring an additional 169,470 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Q2 from $80.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, June 22nd. Needham & Company LLC lifted 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. Stifel Nicolaus boosted their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Robert W. Baird set a $74.00 price target on shares of Q2 in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Q2 from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Q2 Stock Performance

Shares of NYSE QTWO opened at $63.44 on Tuesday. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $85.19. The company has a market cap of $3.96 billion, a PE ratio of 45.31 and a beta of 1.30. The business has a 50-day simple moving average of $51.53 and a two-hundred day simple moving average of $51.24.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts predict that Q2 Holdings, Inc. will post 1.84 earnings per share for the current fiscal 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.

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