The Manufacturers Life Insurance Company Buys 50,473 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• The Manufacturers Life Insurance Company increased its Q2 Holdings stake by 7.8%, purchasing 50,473 additional shares to own 698,693 shares valued at approximately $33.0 million.
• Analyst sentiment remains positive overall, with eight Buy ratings and four Holds producing a consensus “Moderate Buy” rating and a $74 price target, despite JPMorgan lowering its target to $60.
• Q2 Holdings exceeded quarterly expectations, reporting adjusted EPS of $0.70 versus $0.68 expected and revenue of $219.77 million, up 12.6% year over year.

The Manufacturers Life Insurance Company increased its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 698,693 shares of the technology company's stock after buying an additional 50,473 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.12% of Q2 worth $33,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in Q2 during the first quarter worth $25,000. Headlands Technologies LLC acquired a new stake in Q2 in the second quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Q2 in the 4th quarter valued at about $27,000. Finally, Quarry LP grew 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 acquiring an additional 335 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on QTWO shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Q2 in a report on Friday, July 17th. 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. UBS Group set a $68.00 price target on Q2 in a report on Friday. Wall Street Zen raised Q2 from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Needham & Company LLC upped their price objective on Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Q2 Stock Performance

Shares of QTWO opened at $61.00 on Friday. The firm has a market cap of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.33. Q2 Holdings, Inc. has a 52 week low of $40.79 and a 52 week high of $90.08. The firm's 50-day simple moving average is $49.57 and its 200 day simple moving average is $51.50.

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, topping the consensus estimate of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. During the same period last year, the business posted $0.18 earnings per share. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Q2 Holdings, Inc. will post 1.73 earnings per share for the current year.

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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