Trexquant Investment LP Purchases Shares of 22,790 Q2 Holdings, Inc. (NYSE:QTWO)

Trexquant Investment LP acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 22,790 shares of the technology company’s stock, valued at approximately $2,294,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QTWO. State Street Corp grew its position in 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. Nordea Investment Management AB boosted its stake in shares of Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after acquiring an additional 42,433 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Q2 in the 4th quarter worth $288,000. Charles Schwab Investment Management Inc. raised its position in shares of Q2 by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock worth $51,036,000 after purchasing an additional 10,636 shares during the period. Finally, Dakota Wealth Management lifted its holdings in shares of Q2 by 189.8% during the fourth quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 10,498 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on QTWO shares. Raymond James lifted their price target on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Robert W. Baird restated a “neutral” rating and issued a $99.00 price target (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Stifel Nicolaus lifted their price objective on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial restated a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and a consensus price target of $102.33.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the completion of the sale, the insider now owns 113,278 shares of the company’s stock, valued at $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock valued at $14,853,965 over the last three months. 3.00% of the stock is currently owned by insiders.

Q2 Stock Down 2.0 %

Shares of Q2 stock opened at $68.94 on Tuesday. The stock has a 50-day simple moving average of $84.71 and a 200-day simple moving average of $90.83. Q2 Holdings, Inc. has a 52-week low of $49.56 and a 52-week high of $112.82. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -106.05 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO) last posted its earnings results 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 positive return on equity of 0.85% and a negative net margin of 5.53%. On average, equities research 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.