Royce & Associates LP Has $4.54 Million Holdings in Q2 Holdings, Inc. (QTWO)

Royce & Associates LP lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 21.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 109,000 shares of the technology company’s stock after selling 30,000 shares during the period. Royce & Associates LP owned approximately 0.26% of Q2 worth $4,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new stake in shares of Q2 in the 2nd quarter worth approximately $924,000. Franklin Resources Inc. raised its holdings in shares of Q2 by 55.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock worth $55,523,000 after purchasing an additional 536,772 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Q2 in the 2nd quarter worth approximately $515,000. D L Carlson Investment Group Inc. raised its holdings in shares of Q2 by 24.0% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 94,760 shares of the technology company’s stock worth $3,501,000 after purchasing an additional 18,355 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Q2 by 213.2% in the 2nd quarter. First Trust Advisors LP now owns 52,950 shares of the technology company’s stock worth $1,957,000 after purchasing an additional 36,046 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

In other news, Director R. H. Seale sold 10,560 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.72, for a total transaction of $408,883.20. Following the completion of the transaction, the director now directly owns 383,828 shares in the company, valued at approximately $14,861,820.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jennifer Noel Harris sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $40.49, for a total transaction of $404,900.00. Following the transaction, the chief financial officer now owns 74,575 shares of the company’s stock, valued at $3,019,541.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,012,086 shares of company stock valued at $41,948,730 over the last 90 days. Company insiders own 24.50% of the company’s stock.

QTWO has been the topic of a number of research reports. KeyCorp reaffirmed a “hold” rating on shares of Q2 in a report on Wednesday, September 13th. Morgan Stanley boosted their target price on shares of Q2 from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. BTIG Research reissued a “buy” rating and set a $47.00 target price on shares of Q2 in a report on Sunday, November 5th. Canaccord Genuity reissued a “hold” rating and set a $43.00 target price on shares of Q2 in a report on Monday, October 30th. Finally, BidaskClub raised shares of Q2 from a “hold” rating to a “buy” rating in a report on Sunday, October 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Q2 currently has a consensus rating of “Buy” and an average target price of $45.36.

Shares of Q2 Holdings, Inc. (QTWO) opened at $38.00 on Monday. Q2 Holdings, Inc. has a 1-year low of $28.30 and a 1-year high of $44.35.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The firm 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%. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) EPS. analysts forecast that Q2 Holdings, Inc. will post -0.48 earnings per share for the current year.

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About Q2

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.

Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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