Bank of New York Mellon Corp Purchases New Position in Q2 Holdings, Inc. $QTWO

Bank of New York Mellon Corp purchased a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 408,295 shares of the technology company's stock, valued at approximately $19,639,000. Bank of New York Mellon Corp owned about 0.65% of Q2 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QTWO. Vanguard Group Inc. increased its stake in shares of Q2 by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company's stock valued at $576,929,000 after buying an additional 82,827 shares during the period. Capital Research Global Investors lifted its position in shares of Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company's stock worth $226,658,000 after purchasing an additional 1,454,076 shares during the period. William Blair Investment Management LLC lifted its position 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 worth $194,451,000 after purchasing an additional 553,713 shares during the period. Wasatch Advisors LP boosted its stake in shares of Q2 by 2.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company's stock valued at $156,221,000 after purchasing an additional 60,016 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Q2 by 119.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company's stock valued at $57,253,000 after buying an additional 657,707 shares during the period.

Analysts Set New Price Targets

QTWO has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Q2 from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. Weiss Ratings raised Q2 from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Zacks Research upgraded Q2 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Morgan Stanley increased their price objective on Q2 from $63.00 to $68.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Finally, UBS Group set a $68.00 target price on shares of Q2 in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Q2 presently has an average rating of "Moderate Buy" and an average target price of $75.09.

Insider Buying and Selling

In related news, CFO Jonathan Price sold 77,180 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the transaction, the chief financial officer owned 207,633 shares in the company, valued at $13,643,564.43. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Anne Rutledge sold 10,000 shares of Q2 stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the insider directly owned 113,913 shares of the company's stock, valued at approximately $7,184,492.91. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.88% of the company's stock.

Q2 Stock Down 0.2%

Shares of NYSE QTWO opened at $64.97 on Monday. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $85.19. The firm has a market cap of $4.05 billion, a P/E ratio of 46.41 and a beta of 1.30. The company has a 50 day moving average of $57.03 and a 200 day moving average of $51.46.

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

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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