Dynamic Technology Lab Private Ltd Purchases New Position in Q2 Holdings Inc (QTWO)
Dynamic Technology Lab Private Ltd purchased a new stake in Q2 Holdings Inc (NYSE:QTWO) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,496 shares of the technology company’s stock, valued at approximately $200,000.
A number of other institutional investors also recently modified their holdings of QTWO. SG Americas Securities LLC purchased a new position in Q2 in the 2nd quarter worth approximately $132,000. Brick & Kyle Associates purchased a new position in Q2 in the 2nd quarter worth approximately $228,000. Aperio Group LLC purchased a new position in Q2 in the 1st quarter worth approximately $230,000. Oppenheimer Asset Management Inc. purchased a new position in Q2 in the 1st quarter worth approximately $260,000. Finally, Trexquant Investment LP purchased a new position in Q2 in the 2nd quarter worth approximately $267,000. 93.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Matthew P. Flake sold 20,000 shares of Q2 stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $59.87, for a total value of $1,197,400.00. Following the completion of the sale, the chief executive officer now owns 280,008 shares in the company, valued at approximately $16,764,078.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl James Schaper sold 17,752 shares of Q2 stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $66.19, for a total transaction of $1,175,004.88. Following the completion of the sale, the director now owns 31,844 shares of the company’s stock, valued at approximately $2,107,754.36. The disclosure for this sale can be found here. Insiders sold a total of 1,320,196 shares of company stock valued at $78,229,369 in the last quarter. 17.90% of the stock is owned by insiders.
Q2 (NYSE:QTWO) last announced its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.15. The business had revenue of $58.57 million during the quarter, compared to the consensus estimate of $58.34 million. Q2 had a negative net margin of 12.07% and a negative return on equity of 14.66%. sell-side analysts expect that Q2 Holdings Inc will post -0.53 EPS for the current fiscal year.
A number of research analysts have weighed in on QTWO shares. Zacks Investment Research raised shares of Q2 from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Saturday, August 11th. Stifel Nicolaus raised their target price on shares of Q2 from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. Raymond James raised their price target on shares of Q2 from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, September 10th. Loop Capital raised their price target on shares of Q2 to $67.00 and gave the stock an “in-line” rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Q2 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 12th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $59.36.
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.
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