Summit Creek Advisors LLC Sells 16,741 Shares of Q2 Holdings, Inc. $QTWO

Summit Creek Advisors LLC reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 198,399 shares of the technology company’s stock after selling 16,741 shares during the period. Q2 comprises about 2.1% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Summit Creek Advisors LLC owned 0.32% of Q2 worth $14,362,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Q2 during the second quarter valued at approximately $60,466,000. American Century Companies Inc. lifted its position in shares of Q2 by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock worth $102,303,000 after buying an additional 411,930 shares during the period. Ameriprise Financial Inc. boosted its stake in Q2 by 18.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,104,722 shares of the technology company’s stock valued at $103,391,000 after buying an additional 169,470 shares in the last quarter. Invesco Ltd. boosted its stake in Q2 by 4.8% in the 2nd quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock valued at $262,390,000 after buying an additional 128,387 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Q2 by 24.2% in the second quarter. Handelsbanken Fonder AB now owns 525,216 shares of the technology company’s stock valued at $49,155,000 after acquiring an additional 102,300 shares during the period.

Q2 Trading Up 1.0%

QTWO opened at $70.58 on Monday. The stock has a market capitalization of $4.41 billion, a PE ratio of 147.04 and a beta of 1.35. Q2 Holdings, Inc. has a 1-year low of $58.57 and a 1-year high of $102.07. The firm has a 50-day moving average price of $71.83 and a two-hundred day moving average price of $75.68.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The company had revenue of $201.70 million for the quarter, compared to analyst estimates of $197.87 million. Q2 had a return on equity of 10.92% and a net margin of 4.12%.Q2’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, research analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Needham & Company LLC dropped their target price on shares of Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Royal Bank Of Canada cut their price target on shares of Q2 from $102.00 to $86.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Wall Street Zen raised shares of Q2 from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald cut their target price on shares of Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.36.

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction on Friday, December 12th. The stock was sold at an average price of $75.46, for a total value of $386,581.58. Following the completion of the sale, the executive directly owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $222,808.32. Following the sale, the chief operating officer owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. The trade was a 3.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 20,883 shares of company stock worth $1,547,778. Insiders own 3.00% of the company’s stock.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.