Bessemer Group Inc. Has $26.88 Million Stock Holdings in Q2 Holdings, Inc. $QTWO

Bessemer Group Inc. lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,466 shares of the technology company’s stock after selling 27,145 shares during the period. Bessemer Group Inc.’s holdings in Q2 were worth $26,877,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Q2 in the second quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in Q2 in the third quarter worth about $26,000. Cullen Frost Bankers Inc. acquired a new position in Q2 in the third quarter worth about $27,000. First Horizon Corp bought a new stake in Q2 during the third quarter worth about $37,000. Finally, Quarry LP grew its stake in Q2 by 92.5% during the third quarter. Quarry LP now owns 697 shares of the technology company’s stock worth $50,000 after buying an additional 335 shares during the last quarter.

Insider Buying and Selling at Q2

In other news, COO Himagiri K. Mukkamala sold 1,343 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $51.35, for a total transaction of $68,963.05. Following the sale, the chief operating officer directly owned 92,910 shares of the company’s stock, valued at $4,770,928.50. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kimberly Anne Rutledge sold 3,187 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.37, for a total transaction of $160,529.19. Following the sale, the insider directly owned 80,551 shares in the company, valued at $4,057,353.87. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 411,484 shares of company stock valued at $20,720,329 over the last three months. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

QTWO has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a research note on Tuesday, April 21st. Royal Bank Of Canada decreased their price objective on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Q2 in a research note on Thursday, April 30th. Morgan Stanley set a $63.00 price objective on shares of Q2 in a research note on Thursday, April 30th. Finally, Truist Financial decreased their price objective on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.27.

Q2 Price Performance

QTWO opened at $45.16 on Friday. Q2 Holdings, Inc. has a one year low of $44.46 and a one year high of $96.68. The company’s 50 day simple moving average is $48.94 and its 200-day simple moving average is $59.80. The stock has a market capitalization of $2.83 billion, a P/E ratio of 40.32 and a beta of 1.39.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The company had revenue of $216.51 million for the quarter, compared to the consensus estimate of $214.40 million. During the same period last year, the company earned $0.07 earnings per share. Q2’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Q2 Holdings, Inc. will post 1.57 EPS for the current year.

About Q2

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.