Q2 Holdings, Inc. $QTWO Stock: Fort Washington Investment Advisors Inc. OH Reduces Position

Key Points

• Fort Washington Investment Advisors cut its Q2 Holdings position by 35.1% in the third quarter, selling 241,837 shares and retaining 446,380 shares worth approximately $24.7 million.
• Q2 reported quarterly EPS of $0.70, topping estimates by $0.02, while revenue rose 12.6% year over year to $219.77 million. Shares opened at $62.23, within a 52-week range of $40.79 to $76.24.
• Analysts remain broadly positive, with nine Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $74.83.

Fort Washington Investment Advisors Inc. OH lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 35.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 446,380 shares of the technology company's stock after selling 241,837 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.72% of Q2 worth $24,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cim Investment Management Inc. raised its stake in shares of Q2 by 7.4% in the second quarter. Cim Investment Management Inc. now owns 9,050 shares of the technology company's stock worth $435,000 after purchasing an additional 625 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Q2 by 22.4% during the second quarter. Tidal Investments LLC now owns 251,079 shares of the technology company's stock worth $12,077,000 after purchasing an additional 45,927 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Q2 during the second quarter worth about $413,000. Integrated Wealth Concepts LLC purchased a new stake in Q2 in the second quarter valued at approximately $71,000. Finally, Allworth Financial LP boosted its position in Q2 by 48.1% in the second quarter. Allworth Financial LP now owns 1,120 shares of the technology company's stock valued at $54,000 after buying an additional 364 shares during the last quarter.

Q2 Stock Performance

Shares of QTWO opened at $62.23 on Friday. The business's 50-day moving average is $60.77 and its two-hundred day moving average is $53.64. The company has a market capitalization of $3.88 billion, a P/E ratio of 44.45 and a beta of 1.34. Q2 Holdings, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $76.24.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The business had revenue of $219.77 million during the quarter, compared to analysts' expectations of $216.86 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The company's revenue for the quarter was up 12.6% on a year-over-year basis. Analysts forecast that Q2 Holdings, Inc. will post 1.80 EPS for the current year.

Analyst Upgrades and Downgrades

QTWO has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. UBS Group set a $68.00 price target on shares of Q2 in a research report on Friday, July 31st. Needham & Company LLC lifted their price objective on shares of Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. DA Davidson restated a "buy" rating and set a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $82.00 price objective on shares of Q2 in a report on Tuesday, September 22nd. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Q2 has an average rating of "Moderate Buy" and an average price target of $74.83.

Insider Buying and Selling

In related news, General Counsel Michael Kerr sold 636 shares of Q2 stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $60.96, for a total transaction of $38,770.56. Following the completion of the transaction, the general counsel directly owned 80,739 shares in the company, valued at approximately $4,921,849.44. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kimberly Rutledge sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the transaction, the insider directly owned 113,913 shares of the company's stock, valued at $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,816 shares of company stock valued at $5,740,968 over the last ninety days. Company insiders own 0.88% of the company's stock.

Q2 Company Profile

Q2 Holdings, Inc is a financial technology company that provides cloud-based digital banking and lending solutions. Its software is designed primarily for banks, credit unions and other financial institutions seeking to deliver online and mobile banking services, automate financial workflows and improve engagement with consumers and businesses.

The company's offerings include the Q2 Digital Banking Platform, which supports digital account access and financial services, as well as tools for lending, relationship pricing, profitability management and embedded finance.

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