Jennison Associates LLC Has $42.32 Million Stock Position in Q2 Holdings, Inc. $QTWO

Key Points

• Jennison Associates LLC cut its stake in Q2 Holdings by 18.4% in the first quarter, but still held 894,749 shares worth about $42.32 million at quarter-end.
• Wall Street sentiment remains generally constructive: analysts currently have a Moderate Buy consensus on QTWO, with an average price target of $73.45, though some firms recently lowered targets or ratings.
• Q2 reported quarterly revenue of $216.51 million, topping expectations, but earnings of $0.63 per share missed estimates; the stock was trading around $55.55 and has moved between $40.79 and $92.66 over the past year.

Jennison Associates LLC reduced its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 894,749 shares of the technology company's stock after selling 202,034 shares during the quarter. Jennison Associates LLC owned about 1.43% of Q2 worth $42,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Q2 in the 2nd quarter valued at $26,000. Measured Wealth Private Client Group LLC bought a new position in Q2 during the third quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new position in Q2 during the fourth quarter worth $27,000. Root Financial Partners LLC acquired a new stake in Q2 in the first quarter worth $25,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company's stock valued at $59,000 after purchasing an additional 539 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on Q2 from $80.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, June 22nd. Wall Street Zen lowered Q2 from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Q2 in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus set a $70.00 price target on Q2 in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $73.45.

Q2 Trading Up 1.3%

Q2 stock opened at $55.55 on Tuesday. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 49.60 and a beta of 1.33. The firm's fifty day moving average price is $47.62 and its two-hundred day moving average price is $52.24. Q2 Holdings, Inc. has a 1-year low of $40.79 and a 1-year high of $92.66.

Q2 (NYSE:QTWO - Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS 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 period in the previous year, the firm earned $0.07 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that Q2 Holdings, Inc. will post 1.64 EPS for the current 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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