Q2 Holdings, Inc. (NYSE:QTWO) Stake Lessened by abrdn plc

abrdn plc decreased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,222 shares of the technology company’s stock after selling 42,422 shares during the period. abrdn plc’s holdings in Q2 were worth $33,282,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after buying an additional 169 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Q2 in the first quarter worth about $50,000. International Assets Investment Management LLC raised its position in Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after acquiring an additional 1,812 shares in the last quarter. Quest Partners LLC acquired a new stake in Q2 in the 2nd quarter valued at about $153,000. Finally, SG Americas Securities LLC bought a new position in shares of Q2 during the 1st quarter valued at about $173,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QTWO. Compass Point started coverage on shares of Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price on the stock. Needham & Company LLC reaffirmed an “underperform” rating on shares of Q2 in a report on Friday, October 18th. The Goldman Sachs Group raised their price objective on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson restated a “neutral” rating and issued a $76.00 target price on shares of Q2 in a report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned 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 a consensus price target of $73.64.

Insiders Place Their Bets

In other news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock worth $3,109,699 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Q2 Stock Up 1.0 %

Shares of Q2 stock opened at $85.64 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $86.25. The stock has a 50-day moving average price of $77.77 and a 200 day moving average price of $67.47. The company has a market cap of $5.16 billion, a P/E ratio of -73.83 and a beta of 1.59.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS 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 company had revenue of $172.89 million for the quarter, compared to analyst estimates of $170.67 million. As a group, analysts expect that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

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.