Columbus Circle Investors Sells 60,453 Shares of Q2 Holdings Inc (QTWO)

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Columbus Circle Investors reduced its holdings in Q2 Holdings Inc (NYSE:QTWO) by 16.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 301,614 shares of the technology company’s stock after selling 60,453 shares during the period. Columbus Circle Investors’ holdings in Q2 were worth $18,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. increased its position in Q2 by 17.6% in the 1st quarter. Sei Investments Co. now owns 7,217 shares of the technology company’s stock valued at $329,000 after acquiring an additional 1,080 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Q2 by 13.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,840 shares of the technology company’s stock valued at $675,000 after acquiring an additional 1,431 shares during the period. Barings LLC increased its position in Q2 by 23.2% in the 2nd quarter. Barings LLC now owns 8,200 shares of the technology company’s stock valued at $468,000 after acquiring an additional 1,543 shares during the period. MetLife Investment Advisors LLC increased its position in Q2 by 13.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,765 shares of the technology company’s stock valued at $956,000 after acquiring an additional 1,935 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Q2 in the 2nd quarter valued at approximately $132,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.

Several equities analysts have issued reports on QTWO shares. Zacks Investment Research upgraded shares of Q2 from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Saturday, August 11th. Stephens started coverage on shares of Q2 in a research report on Thursday, September 27th. They issued an “equal weight” rating and a $70.00 price target for the company. Raymond James upped their price target on shares of Q2 from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Loop Capital increased their price objective on shares of Q2 to $67.00 and gave the stock an “in-line” rating in a research report on Thursday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Q2 in a research report on Thursday, August 9th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $60.07.

In related news, Director Jeffrey T. Diehl sold 1,000,000 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $58.25, for a total transaction of $58,250,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Barry G. Benton sold 5,541 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $65.73, for a total transaction of $364,209.93. Following the transaction, the senior vice president now directly owns 38,140 shares in the company, valued at $2,506,942.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,452,477 shares of company stock valued at $85,704,818. 17.90% of the stock is currently owned by corporate insiders.

QTWO opened at $51.59 on Wednesday. Q2 Holdings Inc has a twelve month low of $36.25 and a twelve month high of $67.10. The company has a quick ratio of 6.00, a current ratio of 6.00 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.18 billion, a PE ratio of -107.48 and a beta of 1.43.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.15. Q2 had a negative net margin of 12.07% and a negative return on equity of 14.66%. The company had revenue of $58.57 million during the quarter, compared to analysts’ expectations of $58.34 million. As a group, research analysts anticipate that Q2 Holdings Inc will post -0.53 earnings per share for the current fiscal year.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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