The Vanguard Group, Inc. recently announced the acquisition of new stake in Q2 Holdings Inc. (NYSE:QTWO). The institutional investor has increased its shareholding in the Technology company by 3.03% to 5.37 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 9.30% valued currently at $173.26 million. In addition, BlackRock Fund Advisors raised its holdings by 0.18 million to 3.85 million shares. And Wasatch Advisors, Inc. has lifted its position by 9.95% or 0.25 million shares – to 2.8 million shares.
With over 3.02 million Q2 Holdings Inc. (QTWO) shares trading Tuesday and a closing price of $23.99 on the day, the dollar volume was approximately $72.38 million. The shares have shown a negative half year performance of -42.98% and its price on 03/14/23 gained nearly 14.95%. Currently, there are 57.59M common shares owned by the public and among those 55.31M shares have been available to trade.
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Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 376,650 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 231,894 shares.
The top 3 mutual fund holders in Q2 Holdings Inc. are Hartford Mid Cap Fund, Vanguard Total Stock Market Index, and JPMorgan Small Cap Equity Fund. Hartford Mid Cap Fund owns 1.74 million shares of the company’s stock, all valued at over $56.23 million. The company sold 14309.0 shares recently to bring their total holdings to about 3.02% of the shares outstanding. Vanguard Total Stock Market Index bought 3550.0 shares to see its total holdings expand to 1.66 million shares valued at over $53.74 million and representing 2.88% of the shares outstanding. JPMorgan Small Cap Equity Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Q2 Holdings Inc. (NYSE: QTWO) opened at $22.24, up $1.37 from a prior closing price of $20.87. However, the script later moved the day high at 24.10, up 14.95%. The company’s stock has a 5-day price change of -23.38% and -8.61% over the past three months. QTWO shares are trading -10.72% year to date (YTD), with the 12-month market performance down to -57.16% lower. It has a 12-month low price of $18.91 and touched a high of $65.65 over the same period. QTWO has an average intraday trading volume of 503.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -24.12%, -23.70%, and -31.19% respectively.
Institutional ownership of Q2 Holdings Inc. (NYSE: QTWO) 57.59M shares outstanding. Mutual fund holders own 60.72%, while other institutional holders and individual stakeholders account for 8.27% and 38.52% respectively.
It has a market capitalization of $1.51B and a beta (3y monthly) value of 1.49. The earnings-per-share (ttm) stands at -$1.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.58% over the week and 6.20% over the month.
Analysts forecast that Q2 Holdings Inc. (QTWO) will achieve an EPS of $0.12 for the current quarter, $0.1 for the next quarter and $0.53 for 2023. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 4.90%, and 67.12% over the next financial year. EPS should grow at an annualized rate of 34.40% over the next five years, compared to -24.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Q2 Holdings Inc. (QTWO) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 6 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the QTWO, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on January 31, 2023, with the firm’s price target at $32. RBC Capital Mkts coverage for the Q2 Holdings Inc. (QTWO) stock in a research note released on November 08, 2022 offered a Sector Perform rating with a price target of $32. Piper Sandler was of a view on November 08, 2022 that the stock is Underweight, while Stephens gave the stock Equal-Weight rating on May 17, 2022, issuing a price target of $65- $50. KeyBanc Capital Markets on their part issued Sector Weight rating on January 25, 2022.
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