Hood River Capital Management LLC Reduces Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Hood River Capital Management LLC decreased its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 931,939 shares of the technology company’s stock after selling 513,437 shares during the quarter. Q2 comprises 1.4% of Hood River Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Hood River Capital Management LLC owned 1.54% of Q2 worth $93,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of QTWO. Proficio Capital Partners LLC acquired a new position in shares of Q2 in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Q2 in the fourth quarter worth $30,000. TCTC Holdings LLC bought a new position in shares of Q2 during the 4th quarter valued at about $30,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Q2 in the 4th quarter valued at $32,000. Finally, NewEdge Advisors LLC raised its stake in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock valued at $38,000 after purchasing an additional 275 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank of Canada increased their price target on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Citigroup increased their price target on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Raymond James increased their price target on Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Truist Financial restated a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Finally, Stephens reissued an “overweight” rating and set a $115.00 price objective on shares of Q2 in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.33.

Q2 Stock Up 3.8 %

Q2 stock opened at $74.99 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s 50 day moving average price is $79.36 and its 200 day moving average price is $90.22. Q2 Holdings, Inc. has a 1-year low of $50.91 and a 1-year high of $112.82. The company has a market cap of $4.55 billion, a PE ratio of -115.37 and a beta of 1.61.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew P. Flake sold 36,023 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock worth $14,853,965 in the last three months. 3.00% of the stock is owned by company insiders.

Q2 Company Profile

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.