LPL Financial LLC Purchases 6,666 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

LPL Financial LLC grew its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 35.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,569 shares of the technology company’s stock after purchasing an additional 6,666 shares during the period. LPL Financial LLC’s holdings in Q2 were worth $2,574,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Highland Capital Management LLC lifted its position in shares of Q2 by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after purchasing an additional 172 shares in the last quarter. Arizona State Retirement System boosted its position in Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock worth $1,761,000 after acquiring an additional 190 shares during the last quarter. Moran Wealth Management LLC lifted its position in Q2 by 2.7% during the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock worth $817,000 after buying an additional 215 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Q2 during the 4th quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Q2 during the 4th quarter worth about $30,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James lifted their price target on shares of Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Stifel Nicolaus upped 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. Citigroup lifted their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Baird R W lowered Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the 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 sale, the insider now directly 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. Over the last 90 days, insiders have sold 193,858 shares of company stock valued at $14,853,965. Insiders own 3.00% of the company’s stock.

Q2 Stock Up 2.9 %

NYSE:QTWO opened at $74.79 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $4.54 billion, a PE ratio of -115.06 and a beta of 1.61. The company has a 50-day moving average of $81.95 and a 200 day moving average of $90.49. Q2 Holdings, Inc. has a 1-year low of $49.56 and a 1-year high of $112.82.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) 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%. As a group, research analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Q2 Company Profile

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.