Tidal Investments LLC Increases Stake in Q2 Holdings, Inc. $QTWO

Key Points

• Tidal Investments increased its Q2 Holdings stake by 22.4% in the second quarter, adding 45,927 shares to own 251,079 shares worth approximately $12.1 million, or 0.40% of the company.
• Analyst sentiment remains favorable, with Q2 receiving a consensus “Moderate Buy” rating and an average price target of $76.17. Targets included Needham’s increase to $75 and UBS’s $68 target.
• Q2 reported quarterly EPS of $0.70, exceeding estimates of $0.68, while revenue rose 12.6% year over year to $219.77 million. Shares opened at $60.91, and company insiders sold approximately $5.7 million in stock over the past three months.

Tidal Investments LLC lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 22.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 251,079 shares of the technology company's stock after buying an additional 45,927 shares during the quarter. Tidal Investments LLC owned approximately 0.40% of Q2 worth $12,077,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QTWO. Root Financial Partners LLC acquired a new position in Q2 during the 1st quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in shares of Q2 in the 2nd quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Q2 in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Q2 during the 4th quarter worth $27,000. Finally, Optiver Holding B.V. lifted its position in shares of Q2 by 1,578.9% during the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company's stock worth $30,000 after purchasing an additional 600 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on QTWO shares. Needham & Company LLC increased their target price on Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, July 30th. UBS Group set a $68.00 price target on Q2 in a report on Friday, July 31st. Wall Street Zen cut Q2 from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Zacks Research upgraded Q2 from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Q2 from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Q2 presently has an average rating of "Moderate Buy" and a consensus target price of $76.17.

Q2 Price Performance

Shares of QTWO opened at $60.91 on Friday. Q2 Holdings, Inc. has a 1-year low of $40.79 and a 1-year high of $85.13. The stock has a market cap of $3.80 billion, a PE ratio of 43.51 and a beta of 1.33. The firm has a fifty day moving average price of $60.02 and a 200 day moving average price of $52.09.

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 return on equity of 17.04% and a net margin of 10.87%.The company had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter last year, the company posted $0.18 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts expect that Q2 Holdings, Inc. will post 1.84 EPS for the current fiscal year.

Insider Activity at Q2

In related news, CFO Jonathan Price sold 77,180 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the transaction, the chief financial officer owned 207,633 shares in the company, valued at $13,643,564.43. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $38,770.56. Following 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 87,816 shares of company stock valued at $5,740,968 in the last three months. 0.88% of the stock is currently owned by company insiders.

Q2 Company Profile

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company's offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.

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