Castleark Management LLC Acquires Shares of 57,070 Q2 Holdings, Inc. $QTWO

Castleark Management LLC acquired a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,070 shares of the technology company’s stock, valued at approximately $5,341,000. Castleark Management LLC owned about 0.09% of Q2 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position in Q2 by 56.1% during the 1st quarter. Cetera Investment Advisers now owns 4,700 shares of the technology company’s stock valued at $376,000 after purchasing an additional 1,689 shares during the last quarter. LPL Financial LLC increased its stake in shares of Q2 by 1.4% during the first quarter. LPL Financial LLC now owns 25,933 shares of the technology company’s stock valued at $2,075,000 after buying an additional 364 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Q2 by 42.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,816 shares of the technology company’s stock valued at $225,000 after acquiring an additional 844 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Q2 by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 514,732 shares of the technology company’s stock worth $41,184,000 after acquiring an additional 7,667 shares during the period. Finally, Townsquare Capital LLC boosted its holdings in Q2 by 20.8% in the first quarter. Townsquare Capital LLC now owns 3,482 shares of the technology company’s stock valued at $279,000 after acquiring an additional 600 shares in the last quarter.

Insider Transactions at Q2

In related news, COO Himagiri K. Mukkamala sold 3,024 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $222,808.32. Following the sale, the chief operating officer directly owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the sale, the executive owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 20,883 shares of company stock valued at $1,547,778. Insiders own 3.00% of the company’s stock.

Q2 Stock Performance

QTWO stock opened at $75.30 on Monday. The firm has a 50 day moving average price of $67.50 and a 200-day moving average price of $78.02. Q2 Holdings, Inc. has a 52-week low of $58.57 and a 52-week high of $108.51. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 156.88 and a beta of 1.37.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.32). Q2 had a return on equity of 10.92% and a net margin of 4.12%.The company had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $197.87 million. During the same quarter in the previous year, the company earned ($0.20) EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Q2 from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus decreased their price target on shares of Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. UBS Group set a $90.00 price objective on shares of Q2 in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.40.

Q2 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.