Principal Financial Group Inc. Buys 49,233 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Principal Financial Group Inc. boosted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 38.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,695 shares of the technology company’s stock after buying an additional 49,233 shares during the period. Principal Financial Group Inc.’s holdings in Q2 were worth $14,095,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Q2 during the 1st quarter valued at $173,000. Swiss National Bank raised its holdings in shares of Q2 by 0.5% in the 1st quarter. Swiss National Bank now owns 115,700 shares of the technology company’s stock worth $6,081,000 after acquiring an additional 600 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Q2 by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 11,019 shares of the technology company’s stock worth $579,000 after acquiring an additional 747 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Q2 by 25.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,341 shares of the technology company’s stock valued at $1,069,000 after acquiring an additional 4,090 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Q2 during the 1st quarter valued at about $281,000.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,963 shares of company stock worth $2,321,659. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on QTWO shares. Royal Bank of Canada raised their target price on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Stephens lifted their price objective on shares of Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley increased their target price on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Truist Financial restated a “buy” rating and set a $100.00 price target (up from $78.00) on shares of Q2 in a report on Thursday, November 7th. Finally, Needham & Company LLC increased their price objective on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Q2 Price Performance

Shares of NYSE QTWO opened at $97.12 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $83.13 and a two-hundred day simple moving average of $71.08. Q2 Holdings, Inc. has a 1-year low of $34.59 and a 1-year high of $105.00. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -101.17 and a beta of 1.58.

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.