Harvest Fund Management Co. Ltd Buys 10,507 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Harvest Fund Management Co. Ltd boosted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 343.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,563 shares of the technology company’s stock after buying an additional 10,507 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Q2 were worth $1,365,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares during the period. BNP Paribas Financial Markets increased its holdings in Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares during the period. Nordea Investment Management AB raised its position in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after purchasing an additional 42,433 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Q2 in the 3rd quarter worth $1,227,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Q2 during the 4th quarter worth $288,000.

Q2 Trading Up 3.3 %

NYSE QTWO opened at $78.65 on Thursday. Q2 Holdings, Inc. has a 12-month low of $46.50 and a 12-month high of $112.82. The company has a fifty day simple moving average of $88.47 and a two-hundred day simple moving average of $90.22. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The stock has a market cap of $4.78 billion, a P/E ratio of -120.99 and a beta of 1.62.

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%. On average, analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Insider Activity at Q2

In other news, CEO Matthew P. Flake sold 56,799 shares of the business’s 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 owns 453,849 shares of the company’s stock, valued at $35,527,299.72. The trade was a 11.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,835 shares of company stock worth $11,959,517 over the last quarter. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Stephens reaffirmed an “overweight” rating and issued a $115.00 price target on shares of Q2 in a research report on Thursday, February 13th. Needham & Company LLC lifted their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Citigroup boosted their price objective on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $105.27.

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.