Lisanti Capital Growth LLC Reduces Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Lisanti Capital Growth LLC cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,485 shares of the technology company’s stock after selling 1,445 shares during the period. Q2 comprises approximately 2.0% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 3rd largest holding. Lisanti Capital Growth LLC owned 0.23% of Q2 worth $8,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Hood River Capital Management LLC purchased a new stake in shares of Q2 during the 1st quarter valued at $62,765,000. Price T Rowe Associates Inc. MD increased its holdings in Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after acquiring an additional 683,957 shares during the last quarter. Norges Bank purchased a new stake in Q2 in the 4th quarter worth about $20,470,000. Victory Capital Management Inc. increased its holdings in Q2 by 855.4% in the 4th quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring an additional 398,871 shares during the last quarter.

Insider Activity

In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares of the company’s stock, valued at $29,927,075.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Q2 news, Director James Offerdahl sold 1,013 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the transaction, the director now directly owns 397,702 shares in the company, valued at approximately $29,927,075.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,161 shares of company stock valued at $6,476,195. Company insiders own 3.60% of the company’s stock.

Q2 Stock Performance

Shares of QTWO traded up $0.42 during mid-day trading on Friday, hitting $74.21. 524,043 shares of the company’s stock traded hands, compared to its average volume of 509,733. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $75.94. The business’s 50-day moving average price is $67.21 and its 200-day moving average price is $58.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QTWO. Royal Bank of Canada lifted their target price on Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. BTIG Research lifted their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Truist Financial reaffirmed a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. DA Davidson downgraded Q2 from a “buy” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $76.00 in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus lifted their price target on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.83.

Q2 Company 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.