Jennison Associates LLC Raises Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC lifted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,616,825 shares of the technology company's stock after acquiring an additional 391,539 shares during the quarter. Jennison Associates LLC owned approximately 2.76% of Q2 worth $70,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company's stock worth $224,368,000 after purchasing an additional 487,111 shares during the period. Conestoga Capital Advisors LLC grew its stake in Q2 by 13.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company's stock valued at $95,650,000 after acquiring an additional 256,802 shares during the period. North Reef Capital Management LP boosted its position in shares of Q2 by 21.2% during the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company's stock worth $66,799,000 after buying an additional 362,227 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Q2 by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,147,474 shares of the technology company's stock worth $37,029,000 after buying an additional 89,674 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Q2 by 11.4% during the third quarter. Federated Hermes Inc. now owns 727,791 shares of the technology company's stock worth $23,486,000 after buying an additional 74,523 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TheStreet upgraded Q2 from a "d+" rating to a "c-" rating in a report on Friday, December 29th. Canaccord Genuity Group upped their target price on Q2 from $40.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Stifel Nicolaus upped their target price on Q2 from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. The Goldman Sachs Group upped their price objective on Q2 from $39.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, January 23rd. Finally, Truist Financial restated a "buy" rating and issued a $60.00 price objective (up previously from $50.00) on shares of Q2 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.33.

Q2 Trading Up 3.2 %

Shares of NYSE QTWO traded up $1.64 during midday trading on Tuesday, reaching $53.39. The company's stock had a trading volume of 552,615 shares, compared to its average volume of 616,057. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a 50 day moving average price of $48.85 and a 200-day moving average price of $41.91. Q2 Holdings, Inc. has a 12-month low of $21.21 and a 12-month high of $53.96.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The company had revenue of $162.12 million for the quarter, compared to analysts' expectations of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. As a group, analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the sale, the director now owns 420,769 shares of the company's stock, valued at approximately $20,512,488.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Q2 news, Director R. H. Seale sold 689 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the sale, the director now owns 420,769 shares of the company's stock, valued at approximately $20,512,488.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R. H. Seale sold 9,000 shares of the business's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the sale, the director now directly owns 363,754 shares in the company, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 337,639 shares of company stock valued at $14,994,784. 3.60% of the stock is owned by company insiders.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.