Summit Investment Advisors Inc. Purchases 195 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Summit Investment Advisors Inc. increased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,156 shares of the technology company’s stock after acquiring an additional 195 shares during the period. Summit Investment Advisors Inc.’s holdings in Q2 were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Highland Capital Management LLC grew its stake in shares of Q2 by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after purchasing an additional 172 shares during the period. Arizona State Retirement System grew its position in Q2 by 1.1% during the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after buying an additional 190 shares during the period. Moran Wealth Management LLC increased its holdings in Q2 by 2.7% during the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after buying an additional 215 shares during the last quarter. TCTC Holdings LLC bought a new position in Q2 in the fourth quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Q2 during the 4th quarter worth $30,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QTWO shares. Compass Point reiterated a “neutral” rating and set a $60.00 target price on shares of Q2 in a research report on Monday, April 7th. Raymond James increased their target price on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Citigroup lifted their price target on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on shares of Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.33.

Q2 Price Performance

Shares of Q2 stock opened at $74.97 on Friday. The firm has a market cap of $4.55 billion, a PE ratio of -115.34 and a beta of 1.61. The stock has a 50 day moving average of $80.11 and a 200 day moving average of $90.21. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 12 month low of $49.56 and a 12 month high of $112.82.

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

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 15,005 shares of the business’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 $1,112,170.60. Following the transaction, the executive now owns 197,966 shares of the company’s stock, valued at approximately $14,673,239.92. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the sale, the insider now owns 113,278 shares of the company’s stock, valued at approximately $8,396,165.36. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock worth $14,853,965 over the last 90 days. 3.00% of the stock is owned by insiders.

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.