Inspire Investing LLC Reduces Position in Q2 Holdings, Inc. (NYSE:QTWO)

Inspire Investing LLC trimmed its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 41.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,603 shares of the technology company’s stock after selling 10,363 shares during the period. Inspire Investing LLC’s holdings in Q2 were worth $881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Q2 by 45.2% in the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Jennison Associates LLC grew its stake in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after acquiring an additional 235,582 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after acquiring an additional 22,400 shares during the period. PEAK6 Investments LLC raised its stake in shares of Q2 by 68.8% during the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock valued at $3,004,000 after acquiring an additional 28,215 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Q2 by 67.4% in the fourth quarter. Principal Financial Group Inc. now owns 39,605 shares of the technology company’s stock valued at $1,719,000 after purchasing an additional 15,942 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QTWO. Needham & Company LLC lifted their target price on Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $78.00 price objective (up from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, BTIG Research upped their price target on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and an average target price of $72.38.

Q2 Price Performance

Shares of QTWO opened at $81.48 on Friday. The company has a 50 day moving average of $71.17 and a two-hundred day moving average of $61.58. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -60.36 and a beta of 1.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 Holdings, Inc. has a twelve month low of $28.91 and a twelve month high of $82.72.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The business had revenue of $172.89 million for the quarter, compared to analysts’ expectations of $170.67 million. As a group, analysts predict that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Q2 news, insider Kimberly Anne Rutledge sold 1,953 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $126,945.00. Following the sale, the insider now owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Q2 news, insider Kimberly Anne Rutledge sold 1,953 shares of Q2 stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $65.00, for a total transaction of $126,945.00. Following the completion of the sale, the insider now owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Offerdahl sold 1,013 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the transaction, the director now directly owns 18,789 shares in the company, valued at $1,389,822.33. The disclosure for this sale can be found here. Insiders have sold a total of 54,916 shares of company stock worth $3,896,644 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

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.