Norges Bank Invests $25.82 Million in Q2 Holdings Inc (QTWO)

Norges Bank purchased a new stake in shares of Q2 Holdings Inc (NYSE:QTWO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 521,061 shares of the technology company’s stock, valued at approximately $25,818,000. Norges Bank owned 1.20% of Q2 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in shares of Q2 by 33.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,203 shares of the technology company’s stock valued at $201,000 after buying an additional 1,042 shares during the period. Diversified Trust Co bought a new stake in Q2 during the fourth quarter worth about $237,000. Amalgamated Bank bought a new stake in Q2 during the fourth quarter worth about $266,000. Oppenheimer Asset Management Inc. boosted its stake in Q2 by 33.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,565 shares of the technology company’s stock worth $277,000 after acquiring an additional 1,398 shares in the last quarter. Finally, Suffolk Capital Management LLC bought a new stake in Q2 during the fourth quarter worth about $307,000. Institutional investors own 99.06% of the company’s stock.

QTWO has been the topic of several research reports. Loop Capital set a $67.00 price objective on shares of Q2 and gave the stock a “buy” rating in a research note on Monday, December 31st. Stephens raised shares of Q2 from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $60.00 to $59.00 in a research note on Thursday, January 3rd. BTIG Research lowered shares of Q2 from a “buy” rating to a “neutral” rating in a research note on Thursday, February 14th. Raymond James boosted their price objective on shares of Q2 from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, February 14th. Finally, DA Davidson lowered shares of Q2 from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $68.35.

In other news, EVP John E. Breeden sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $55.97, for a total value of $279,850.00. Following the transaction, the executive vice president now owns 67,747 shares in the company, valued at $3,791,799.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Adam D. Blue sold 5,025 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $64.98, for a total transaction of $326,524.50. Following the completion of the transaction, the chief technology officer now owns 60,823 shares in the company, valued at approximately $3,952,278.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,689 shares of company stock worth $47,441,404. Insiders own 17.90% of the company’s stock.

Shares of NYSE QTWO opened at $68.59 on Friday. The company has a market capitalization of $2.99 billion, a PE ratio of -185.38 and a beta of 1.54. Q2 Holdings Inc has a 52-week low of $43.41 and a 52-week high of $72.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.96 and a current ratio of 2.96.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 13th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.10. The firm had revenue of $67.20 million for the quarter, compared to the consensus estimate of $66.77 million. Q2 had a negative net margin of 14.68% and a negative return on equity of 12.18%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, research analysts anticipate that Q2 Holdings Inc will post -0.63 earnings per share for the current year.

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Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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