Q2 Holdings, Inc. $QTWO Shares Newly Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 89,815 shares of the technology company’s stock, valued at approximately $4,979,000. Q2 accounts for approximately 1.3% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 26th biggest position. Lisanti Capital Growth LLC owned approximately 0.15% of Q2 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC boosted its stake in shares of Q2 by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,693 shares of the technology company’s stock valued at $260,000 after purchasing an additional 153 shares during the last quarter. Allworth Financial LP grew its position in shares of Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after buying an additional 364 shares during the period. Versant Capital Management Inc grew its position in shares of Q2 by 45.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock worth $76,000 after buying an additional 489 shares during the period. Pacer Advisors Inc. grew its position in shares of Q2 by 42.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock worth $78,000 after buying an additional 495 shares during the period. Finally, Swiss National Bank raised its stake in shares of Q2 by 0.5% during the first quarter. Swiss National Bank now owns 123,700 shares of the technology company’s stock worth $5,851,000 after buying an additional 600 shares during the last quarter.

Q2 Trading Down 1.4%

Q2 stock opened at $74.29 on Thursday. The firm has a market capitalization of $4.59 billion, a P/E ratio of 42.56 and a beta of 1.36. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $76.37. The business has a 50-day moving average of $62.89 and a 200-day moving average of $55.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $225.77 million during the quarter, compared to analysts’ expectations of $221.23 million. Q2 had a return on equity of 17.85% and a net margin of 12.66%. Q2’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. Research analysts anticipate that Q2 Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QTWO. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Q2 from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Royal Bank Of Canada lifted their target price on shares of Q2 from $73.00 to $75.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, UBS Group reissued a “buy” rating on shares of Q2 in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $78.33.

Insider Transactions at Q2

In other Q2 news, General Counsel Michael Kerr sold 636 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $60.96, for a total value of $38,770.56. Following the completion of the sale, the general counsel owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.88% of the company’s stock.

About Q2

Q2 Holdings, Inc. provides digital banking and financial technology solutions to banks, credit unions and other financial institutions. Its cloud-based platform helps institutions deliver online and mobile banking services to consumers and businesses. The company’s offerings include digital account opening, lending, payments, data and analytics, and tools for managing customer relationships. Q2 also provides technology and services that help financial institutions connect with fintech companies and expand their digital offerings.