Short Interest in Q2 Holdings Inc (NYSE:QTWO) Grows By 7.6%

Q2 Holdings Inc (NYSE:QTWO) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 4,656,100 shares, an increase of 7.6% from the June 15th total of 4,325,300 shares. Approximately 12.2% of the company’s shares are short sold. Based on an average daily volume of 493,700 shares, the short-interest ratio is currently 9.4 days.

In other Q2 news, EVP Odus Edward Wittenburg, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $1,209,150.00. Following the transaction, the executive vice president now directly owns 121,173 shares in the company, valued at approximately $9,767,755.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Barry G. Benton sold 3,469 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $277,520.00. Following the completion of the transaction, the senior vice president now owns 40,493 shares in the company, valued at $3,239,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,354 shares of company stock worth $37,117,448. 12.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Artisan Partners Limited Partnership increased its position in Q2 by 0.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,721,082 shares of the technology company’s stock worth $119,202,000 after purchasing an additional 13,407 shares in the last quarter. Champlain Investment Partners LLC increased its position in Q2 by 1.4% during the 1st quarter. Champlain Investment Partners LLC now owns 1,270,670 shares of the technology company’s stock worth $88,007,000 after purchasing an additional 17,400 shares in the last quarter. Wasatch Advisors Inc. increased its position in Q2 by 39.2% during the 1st quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock worth $72,247,000 after purchasing an additional 293,892 shares in the last quarter. Norges Bank acquired a new stake in Q2 during the 4th quarter worth approximately $25,818,000. Finally, Northern Trust Corp increased its position in Q2 by 2.1% during the 4th quarter. Northern Trust Corp now owns 473,191 shares of the technology company’s stock worth $23,446,000 after purchasing an additional 9,689 shares in the last quarter. 98.78% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on QTWO shares. William Blair began coverage on shares of Q2 in a report on Monday, April 1st. They issued an “outperform” rating and a $69.71 target price on the stock. Wells Fargo & Co cut their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Stephens lowered shares of Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price objective on the stock. in a report on Wednesday, April 3rd. Craig Hallum cut their price objective on shares of Green Dot from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.73.

Shares of QTWO stock traded up $0.33 during trading hours on Tuesday, hitting $80.49. 263,105 shares of the company were exchanged, compared to its average volume of 405,525. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -217.54 and a beta of 1.41. Q2 has a 1 year low of $43.41 and a 1 year high of $81.80. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.08 and a current ratio of 2.08. The business’s fifty day moving average price is $77.97.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.21). The company had revenue of $71.30 million for the quarter, compared to analysts’ expectations of $70.67 million. Q2 had a negative return on equity of 16.48% and a negative net margin of 18.89%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.14) earnings per share. As a group, equities research analysts predict that Q2 will post -0.65 earnings per share for the current 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 Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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