Fifth Third Bancorp Has $12.16 Million Stock Position in Q2 Holdings, Inc. $QTWO

Key Points

• Fifth Third Bancorp dramatically increased its Q2 Holdings stake in Q1, boosting its position by 27,165.5% to 257,114 shares worth about $12.16 million.
• Q2 Holdings reported quarterly earnings of $0.63 per share, missing analyst expectations, while revenue came in at $216.51 million and rose 14.1% year over year.
• Wall Street sentiment remains positive overall, with seven Buy ratings and three Holds, giving Q2 a Moderate Buy consensus and an average price target of $73.45.

Fifth Third Bancorp increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 27,165.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,114 shares of the technology company's stock after acquiring an additional 256,171 shares during the quarter. Fifth Third Bancorp owned about 0.41% of Q2 worth $12,161,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in Q2 by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company's stock valued at $5,226,000 after purchasing an additional 194 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Q2 by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company's stock worth $662,000 after buying an additional 197 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Q2 by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company's stock worth $1,032,000 after buying an additional 200 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company's stock worth $68,000 after buying an additional 220 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Q2 during the second quarter worth approximately $26,000.

Q2 Stock Down 1.2%

QTWO opened at $52.04 on Wednesday. The stock has a market cap of $3.26 billion, a P/E ratio of 46.46 and a beta of 1.33. Q2 Holdings, Inc. has a 12 month low of $40.79 and a 12 month high of $92.66. The company has a fifty day simple moving average of $47.19 and a 200 day simple moving average of $52.78.

Q2 (NYSE:QTWO - Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business had revenue of $216.51 million for the quarter, compared to the consensus estimate of $214.40 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that Q2 Holdings, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. DA Davidson reaffirmed a "buy" rating and issued a $82.00 price objective on shares of Q2 in a research note on Monday, June 1st. Robert W. Baird set a $74.00 target price on shares of Q2 in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on Q2 from $80.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, June 22nd. UBS Group set a $77.00 price target on Q2 in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $63.00 price objective on Q2 in a research note on Thursday, April 30th. Seven investment 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $73.45.

Q2 Company 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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