Bank of America Corp DE Sells 70,785 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Bank of America reduced its Q2 Holdings stake by 11%, selling 70,785 shares during the first quarter and retaining 571,650 shares valued at approximately $27 million.
• Q2 reported quarterly earnings of $0.70 per share, exceeding estimates of $0.68, while revenue rose 12.6% year over year to $219.77 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $74, although Q2 insiders—including its CFO—recently sold shares.

Bank of America Corp DE cut its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 571,650 shares of the technology company's stock after selling 70,785 shares during the period. Bank of America Corp DE owned about 0.91% of Q2 worth $27,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Q2 during the 1st quarter worth $25,000. Headlands Technologies LLC bought a new position in Q2 during the second quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Q2 during the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Q2 during the fourth quarter worth about $27,000. Finally, Quarry LP raised its position in Q2 by 92.5% in the third quarter. Quarry LP now owns 697 shares of the technology company's stock worth $50,000 after acquiring an additional 335 shares during the period.

Q2 Price Performance

Shares of NYSE:QTWO opened at $64.65 on Monday. The firm has a fifty day moving average price of $52.96 and a two-hundred day moving average price of $51.14. Q2 Holdings, Inc. has a one year low of $40.79 and a one year high of $85.19. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 46.18 and a beta of 1.30.

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

Insider Transactions at Q2

In other Q2 news, insider Kimberly Anne Rutledge sold 10,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider owned 113,913 shares of the company's stock, valued at $7,184,492.91. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $65.71, for a total value of $5,071,497.80. Following the transaction, the chief financial officer directly owned 207,633 shares of the company's stock, valued at $13,643,564.43. The trade was a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on QTWO shares. DA Davidson reissued a "buy" rating and set a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. Robert W. Baird set a $74.00 price target on shares of Q2 in a report on Thursday, April 30th. UBS Group set a $68.00 price objective on Q2 in a research note on Friday, July 31st. Weiss Ratings raised Q2 from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Finally, Stifel Nicolaus 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.00.

About Q2

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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