Q2 Holdings, Inc. $QTWO Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. reduced its Q2 Holdings stake by 21.1% in the first quarter, selling 78,494 shares and leaving it with 293,972 shares valued at about $13.9 million.
• Analysts remain generally positive on QTWO, with seven Buy ratings and three Hold ratings; the stock’s consensus view is Moderate Buy and the average price target is $73.45.
• Q2 reported quarterly revenue of $216.51 million, topping estimates, but earnings of $0.63 per share fell short of expectations. The stock opened at $54.95 and has traded between $40.79 and $92.66 over the past year.

Bessemer Group Inc. cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 21.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 293,972 shares of the technology company's stock after selling 78,494 shares during the period. Bessemer Group Inc. owned approximately 0.47% of Q2 worth $13,907,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of Q2 during the first quarter worth $25,000. Headlands Technologies LLC purchased a new stake in Q2 during the 2nd quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Q2 in the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Q2 in the 4th quarter valued at about $27,000. Finally, Quarry LP boosted its position in Q2 by 92.5% in the 3rd quarter. Quarry LP now owns 697 shares of the technology company's stock valued at $50,000 after buying an additional 335 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QTWO shares. DA Davidson reaffirmed a "buy" rating and set a $82.00 target price on shares of Q2 in a research report on Monday, June 1st. JPMorgan Chase & Co. reduced their price target on Q2 from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, June 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Q2 in a report on Tuesday, April 21st. Morgan Stanley set a $63.00 price objective on Q2 in a research note on Thursday, April 30th. Finally, Robert W. Baird set a $74.00 price objective on Q2 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Q2 currently has a consensus rating of "Moderate Buy" and an average target price of $73.45.

Q2 Stock Performance

Shares of Q2 stock opened at $54.95 on Friday. The firm has a market cap of $3.44 billion, a PE ratio of 49.06 and a beta of 1.33. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $92.66. The firm's 50-day simple moving average is $47.45 and its 200-day simple moving average is $52.52.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.99% and a return on equity of 14.68%. The firm had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Q2 Holdings, Inc. will post 1.64 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.