Tremblant Capital Group Grows Holdings in Q2 Holdings, Inc. $QTWO

Tremblant Capital Group boosted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 14.3% during the third quarter, Holdings Channel.com reports. The fund owned 357,132 shares of the technology company’s stock after acquiring an additional 44,583 shares during the quarter. Q2 accounts for 2.7% of Tremblant Capital Group’s investment portfolio, making the stock its 19th largest holding. Tremblant Capital Group’s holdings in Q2 were worth $25,853,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Q2 by 13.5% in the third quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock worth $572,772,000 after purchasing an additional 941,672 shares during the period. UBS Group AG raised its position in shares of Q2 by 343.5% during the 3rd quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock valued at $73,110,000 after purchasing an additional 782,220 shares during the period. Norges Bank purchased a new position in shares of Q2 during the 2nd quarter valued at $60,466,000. Marshall Wace LLP lifted its stake in shares of Q2 by 2,040.7% during the 3rd quarter. Marshall Wace LLP now owns 531,654 shares of the technology company’s stock valued at $38,486,000 after buying an additional 506,819 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Q2 by 60.5% in the 2nd quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock worth $102,303,000 after buying an additional 411,930 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QTWO. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a report on Thursday, January 22nd. Cantor Fitzgerald dropped their price objective on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. DA Davidson upgraded Q2 from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Tuesday, February 3rd. Needham & Company LLC decreased their target price on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group set a $67.00 price target on Q2 in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Q2 has a consensus rating of “Moderate Buy” and an average target price of $79.29.

Insider Activity

In other news, CFO Jonathan Price sold 32,156 shares of Q2 stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,599,761.00. Following the sale, the chief financial officer directly owned 197,135 shares of the company’s stock, valued at approximately $9,807,466.25. The trade was a 14.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kirk L. Coleman sold 31,104 shares of Q2 stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,547,424.00. Following the completion of the sale, the insider directly owned 262,657 shares in the company, valued at $13,067,185.75. This trade represents a 10.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 411,087 shares of company stock valued at $20,702,472. 0.31% of the stock is owned by corporate insiders.

Q2 Stock Performance

Shares of NYSE QTWO opened at $48.33 on Friday. The company has a market cap of $3.02 billion, a P/E ratio of 61.17 and a beta of 1.40. Q2 Holdings, Inc. has a 52-week low of $46.16 and a 52-week high of $96.68. The firm’s fifty day moving average is $58.29 and its two-hundred day moving average is $67.00.

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.