Lazard Asset Management LLC Lowers Stock Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• Lazard Asset Management cut its Q2 Holdings stake by 98.6% in the first quarter, selling 4.89 million shares and retaining 71,204 shares valued at approximately $3.37 million.
• Other major institutional investors increased their positions, including Capital Research Global Investors, William Blair Investment Management, and Assenagon Asset Management.
• Q2 reported quarterly earnings of $0.70 per share, beating estimates by $0.02, while revenue rose 12.6% year over year to $219.77 million. Analysts maintain a Moderate Buy consensus with an average price target of $74, above the reported $61 share price.

Lazard Asset Management LLC trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 98.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,204 shares of the technology company's stock after selling 4,890,253 shares during the quarter. Lazard Asset Management LLC owned about 0.11% of Q2 worth $3,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of QTWO. Vanguard Group Inc. increased its holdings in shares of Q2 by 1.0% in the fourth 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 during the period. Capital Research Global Investors lifted its holdings in shares of Q2 by 86.2% during the fourth 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 grew its position in 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 buying an additional 553,713 shares during the last quarter. Wasatch Advisors LP increased its stake in 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 buying an additional 60,016 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Q2 by 119.0% in the 1st 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.

Q2 Stock Up 3.3%

NYSE:QTWO opened at $61.00 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $90.08. The stock has a market cap of $3.80 billion, a PE ratio of 43.57 and a beta of 1.33. The firm's fifty day simple moving average is $49.57 and its 200-day simple moving average is $51.50.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $219.77 million during 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 revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. Equities analysts anticipate that Q2 Holdings, Inc. will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

QTWO has been the subject of a number of analyst reports. Stifel Nicolaus raised their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday. DA Davidson reaffirmed a "buy" rating and issued a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. Zacks Research upgraded shares of Q2 from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Robert W. Baird set a $74.00 price target on shares of Q2 in a report on Thursday, April 30th. Finally, Needham & Company LLC raised their price objective on shares of Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday. One investment 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 stock. Based on data from MarketBeat, Q2 has a consensus rating of "Moderate Buy" and an average target price of $74.00.

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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