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

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

Several other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Q2 by 32.2% during the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 7,475 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Q2 by 20.1% during the 3rd quarter. Captrust Financial Advisors now owns 4,892 shares of the technology company’s stock valued at $390,000 after purchasing an additional 820 shares during the last quarter. Parallax Volatility Advisers L.P. grew its holdings in shares of Q2 by 5.5% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock valued at $443,000 after purchasing an additional 288 shares during the last quarter. Quarry LP lifted its stake in Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Q2 by 12.1% in the third quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock worth $514,000 after purchasing an additional 698 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now directly owns 113,278 shares of the company’s stock, valued at approximately $8,396,165.36. This represents a 5.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented 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. Royal Bank of Canada upped their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. KeyCorp upgraded shares of 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. Finally, Citigroup increased their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Trading Down 6.8 %

QTWO opened at $70.42 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 52 week low of $49.56 and a 52 week high of $112.82. The stock has a market cap of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62. The business has a 50 day moving average of $85.20 and a 200-day moving average of $90.80.

Q2 (NYSE:QTWO) last announced 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%. Equities research analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Q2 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.