Russell Investments Group Ltd. Reduces Stake in Q2 Holdings, Inc. (QTWO)

Russell Investments Group Ltd. decreased its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,490 shares of the technology company’s stock after selling 14,899 shares during the quarter. Russell Investments Group Ltd. owned about 0.56% of Q2 worth $9,682,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its holdings in shares of Q2 by 38.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after purchasing an additional 759 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Q2 by 16,455.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,980 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,962 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Q2 in the second quarter valued at about $111,000. BNP Paribas Arbitrage SA grew its holdings in shares of Q2 by 2,468.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,467 shares of the technology company’s stock valued at $128,000 after purchasing an additional 3,332 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Q2 by 36.9% in the second quarter. Sei Investments Co. now owns 3,557 shares of the technology company’s stock valued at $131,000 after purchasing an additional 959 shares during the period. 91.41% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on QTWO. BidaskClub raised shares of Q2 from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Q2 in a report on Friday, November 3rd. Loop Capital upped their price objective on shares of Q2 from $42.00 to $49.00 and gave the company a “positive” rating in a report on Friday, November 3rd. Finally, SunTrust Banks reissued a “buy” rating on shares of Q2 in a report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $44.90.

In other news, Director Carl James Schaper sold 20,000 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $39.41, for a total transaction of $788,200.00. Following the sale, the director now owns 44,172 shares of the company’s stock, valued at $1,740,818.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jennifer Noel Harris sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.49, for a total transaction of $404,900.00. Following the sale, the chief financial officer now directly owns 74,575 shares in the company, valued at approximately $3,019,541.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,001,575 shares of company stock valued at $41,541,893. 24.50% of the stock is currently owned by insiders.

Shares of Q2 Holdings, Inc. (QTWO) traded up $0.85 during mid-day trading on Wednesday, reaching $40.70. 251,300 shares of the company’s stock traded hands, compared to its average volume of 221,404. Q2 Holdings, Inc. has a one year low of $28.30 and a one year high of $44.35.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $50.05 million. Q2 had a negative net margin of 15.27% and a negative return on equity of 20.50%. Q2’s revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. equities analysts forecast that Q2 Holdings, Inc. will post -0.48 EPS for the current year.

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Q2 Company Profile

Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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