Q2 Holdings, Inc. $QTWO Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB reduced its Q2 Holdings stake by 20.4% in the fourth quarter, selling 145,800 shares and ending with 568,016 shares valued at about $41 million.
• Q2 reported quarterly EPS of $0.63, missing estimates, while revenue came in at $216.5 million, slightly above expectations and up 14.1% year over year.
• Wall Street remains cautiously positive on the stock, with a Moderate Buy consensus rating and an average price target of $75.27, though insiders have also been selling shares recently.

Handelsbanken Fonder AB cut its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 568,016 shares of the technology company's stock after selling 145,800 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.91% of Q2 worth $40,988,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QTWO. Headlands Technologies LLC acquired a new stake in shares of Q2 in the 2nd quarter valued at about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Q2 in the 3rd quarter valued at about $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Q2 in the 3rd quarter valued at about $27,000. Quarry LP boosted its position in shares of 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 purchasing an additional 335 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Q2 in the 3rd quarter valued at about $51,000.

Q2 Trading Up 0.7%

Q2 stock opened at $47.19 on Wednesday. Q2 Holdings, Inc. has a twelve month low of $44.46 and a twelve month high of $96.68. The stock has a 50 day moving average of $48.72 and a two-hundred day moving average of $59.58. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 42.14 and a beta of 1.39.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly 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). The business had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Equities analysts predict that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QTWO shares. DA Davidson reissued a "buy" rating and issued a $82.00 target price on shares of Q2 in a research report on Monday, May 4th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 target price on shares of Q2 in a research report on Thursday, April 30th. Zacks Research cut Q2 from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Truist Financial decreased their price objective on Q2 from $110.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Q2 in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.27.

Insiders Place Their Bets

In other news, insider John E. Breeden sold 6,076 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $312,002.60. Following the completion of the sale, the insider directly owned 84,236 shares of the company's stock, valued at $4,325,518.60. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Himagiri K. Mukkamala sold 1,343 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $51.35, for a total value of $68,963.05. Following the completion of the sale, the chief operating officer directly owned 92,910 shares of the company's stock, valued at $4,770,928.50. This represents a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 411,484 shares of company stock worth $20,720,329. Corporate insiders own 0.88% of the company's stock.

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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