13FPulse
QT

QTWO Q2 HOLDINGS INC

2026Q2 · CUSIP 74736L109 · Enterprise Software Fintech & Payments · Sector: Technology

Normal

Fund flows are within the usual range

Funds that own it
324
Institutions that reported holding it to the SEC
Net decrease in holders
23
Last quarter 347 → now 324
How unusual is that
Bottom 20%
Stronger than only 6% of US stocks
What the filings say, in one paragraph

324 funds held QTWO at the end of 2026Q2, down 23 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $846M(YoY +13.9%), the P/E is 45.3x, return on equity is 14.3%. QTWO has had 16 buying rushes in its history, and the price moved +10.8% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Technology sector, tagged Enterprise Software / Fintech & Payments.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2014Q2: holders=55 2014Q3: holders=61 2014Q4: holders=85 2015Q1: holders=97 2015Q2: holders=107 2015Q3: holders=125 2015Q4: holders=119 2016Q1: holders=109 2016Q2: holders=122 2016Q3: holders=124 2016Q4: holders=127 2017Q1: holders=141 2017Q2: holders=142 2017Q3: holders=150 2017Q4: holders=159 2018Q1: holders=168 2018Q2: holders=179 2018Q3: holders=171 2018Q4: holders=176 2019Q1: holders=191 2019Q2: holders=203 2019Q3: holders=200 2019Q4: holders=201 2020Q1: holders=192 2020Q2: holders=223 2020Q3: holders=244 2020Q4: holders=248 2021Q1: holders=262 2021Q2: holders=237 2021Q3: holders=232 2021Q4: holders=229 2022Q1: holders=232 2022Q2: holders=213 2022Q3: holders=208 2022Q4: holders=203 2023Q1: holders=201 2023Q2: holders=205 2023Q3: holders=206 2023Q4: holders=234 2024Q1: holders=252 2024Q2: holders=272 2024Q3: holders=291 2024Q4: holders=338 2025Q1: holders=335 2025Q2: holders=325 2025Q3: holders=330 2025Q4: holders=348 2026Q1: holders=347 2026Q2: holders=324 -47 -23.5 +0 +23.5 +47 49208366 14Q215Q417Q218Q420Q221Q423Q224Q426Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 16 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2024Q4 Top 20% -9.7% -0.1%
2024Q3 Top 20% +4.9% -8.9%
2024Q2 Top 20% +9.0% +35.7%
2024Q1 Top 20% -2.6% +14.9%
2023Q4 Top 20% +20.3% +48.9%
2020Q3 Top 20% +10.7% +23.9%
2020Q2 Top 20% -4.5% +6.6%
2019Q2 Top 20% -22.5% -16.1%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
174
Change in large funds
+4
Total value they hold
$3.2B
Funds buying for the first time
41
Funds that sold out entirely
64
Price change that quarter
+36.3%
Funds holding puts (bearish)
3
Funds holding calls (bullish)
5

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
45.3
EPS (TTM)
$1.41
EPS YoY
+2250.0%
Revenue (TTM)
$0.8B
Revenue YoY
+13.9%
Net margin
10.9%
ROE
14.3%
Debt ratio
33.6%
FCF (TTM)
$213M
Dividend (TTM)
No dividend
Quarterly Revenue & EPS
2021-09-30: EPS -0.56 2021-12-31: EPS -0.45 2022-03-31: EPS -0.41 2022-06-30: EPS -0.44 2022-09-30: EPS -0.48 2022-12-31: EPS -0.57 2023-03-31: EPS -0.01 2023-06-30: EPS -0.41 2023-09-30: EPS -0.40 2023-12-31: EPS -0.30 2024-03-31: EPS -0.23 2024-06-30: EPS -0.22 2024-09-30: EPS -0.20 2024-12-31: EPS 0.01 2025-03-31: EPS 0.07 2025-06-30: EPS 0.18 2025-09-30: EPS 0.23 2025-12-31: EPS 0.32 2026-03-31: EPS 0.40 2026-06-30: EPS 0.46 0M 110M 220M $M -0.63 -0.06 0.51 2016201720182019202020212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
36 670 1305 20252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-22M20M62M 20162017201820192020202120222023202420252026
Latest quarter $50M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

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2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.