Congress Wealth Management LLC DE Purchases Shares of 2,190 Q2 Holdings, Inc. (NYSE:QTWO)

Congress Wealth Management LLC DE acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the 4th quarter, Holdings Channel reports. The firm acquired 2,190 shares of the technology company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC bought a new stake in Q2 in the 4th quarter valued at $202,645,000. Raymond James Financial Inc. acquired a new position in shares of Q2 in the fourth quarter valued at $18,271,000. Rockefeller Capital Management L.P. bought a new position in shares of Q2 in the third quarter valued at about $9,847,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Q2 during the 4th quarter worth about $11,681,000. Finally, Wealthfront Advisers LLC acquired a new position in Q2 in the 4th quarter valued at about $9,367,000.

Q2 Stock Down 2.4 %

NYSE QTWO opened at $80.71 on Monday. The business has a fifty day moving average price of $86.84 and a two-hundred day moving average price of $90.79. The stock has a market capitalization of $4.90 billion, a PE ratio of -124.16 and a beta of 1.62. Q2 Holdings, Inc. has a fifty-two week low of $46.50 and a fifty-two week high of $112.82. 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 released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Equities analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In other Q2 news, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now directly owns 453,849 shares in the company, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 15,005 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $1,112,170.60. Following the sale, the executive now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 157,835 shares of company stock worth $11,959,517. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Stephens reiterated an “overweight” rating and set a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their target price on shares of Q2 from $119.00 to $106.00 and set a “buy” rating for the company in a research report on Friday. Finally, Stifel Nicolaus raised their price target on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.47.

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.