Thoroughbred Financial Services LLC Buys Shares of 5,373 Q2 Holdings, Inc. (NYSE:QTWO)

Thoroughbred Financial Services LLC purchased a new position in Q2 Holdings, Inc. (NYSE:QTWO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,373 shares of the technology company’s stock, valued at approximately $540,000.

Other large investors also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new position in Q2 in the fourth quarter worth about $202,645,000. State Street Corp boosted its holdings in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its position in Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock valued at $140,175,000 after buying an additional 36,025 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after buying an additional 698,464 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock worth $75,025,000 after acquiring an additional 655,838 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QTWO. Citigroup boosted their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Baird R W lowered Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a research report on Wednesday, December 18th. Needham & Company LLC boosted their price objective on Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.47.

Insider Buying and Selling at Q2

In other Q2 news, CEO Matthew P. Flake sold 36,023 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the transaction, the chief executive officer now owns 485,666 shares in the company, valued at $39,023,263.10. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan Price sold 42,652 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the completion of the sale, the chief financial officer now owns 209,378 shares in the company, valued at approximately $15,571,441.86. This trade represents a 16.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock worth $14,853,965 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Q2 Price Performance

Shares of NYSE:QTWO opened at $70.42 on Friday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -108.33 and a beta of 1.62. The firm has a fifty day moving average price of $85.20 and a 200 day moving average price of $90.80. Q2 Holdings, Inc. has a fifty-two week low of $49.56 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, sell-side analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

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.