Franklin Resources Inc. Buys 424,062 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Franklin Resources Inc. boosted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 893.5% during the 4th quarter, Holdings Channel reports. The fund owned 471,523 shares of the technology company’s stock after buying an additional 424,062 shares during the period. Franklin Resources Inc.’s holdings in Q2 were worth $47,459,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Nordea Investment Management AB increased its holdings in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after purchasing an additional 42,433 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Q2 in the fourth quarter worth approximately $288,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Q2 by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after purchasing an additional 10,636 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James increased their price target on Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Needham & Company LLC increased their target price on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stephens restated an “overweight” rating and set a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Stifel Nicolaus increased their price objective on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Stock Down 6.8 %

Shares of NYSE QTWO opened at $70.42 on Friday. The business’s fifty day moving average price is $85.20 and its 200-day moving average price is $90.70. Q2 Holdings, Inc. has a one year low of $49.56 and a one year high of $112.82. The stock has a market capitalization of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, equities research analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other news, CRO Michael A. Volanoski sold 15,005 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $1,112,170.60. Following the completion of the transaction, the executive now directly owns 197,966 shares in the company, valued at approximately $14,673,239.92. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now directly owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,858 shares of company stock valued at $14,853,965. Company insiders own 3.00% of the company’s stock.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.