Q2 Holdings, Inc. (NYSE:QTWO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 38.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 176,695 shares of the technology company’s stock after purchasing an additional 49,233 shares during the period. Principal Financial Group Inc.’s holdings in Q2 were worth $14,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in QTWO. Versor Investments LP acquired a new position in shares of Q2 in the 3rd quarter valued at about $590,000. Perpetual Ltd bought a new position in shares of Q2 during the third quarter valued at approximately $80,788,000. State Street Corp raised its position in shares of Q2 by 0.3% during the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Q2 by 32.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Q2 during the 3rd quarter worth $1,227,000.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 548 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now owns 18,241 shares in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the transaction, the president now directly owns 337,643 shares of the company’s stock, valued at $35,931,968.06. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,836 shares of company stock worth $3,061,035. 3.00% of the stock is owned by insiders.

Q2 Stock Down 2.2 %

NYSE QTWO opened at $103.36 on Friday. Q2 Holdings, Inc. has a 12 month low of $39.66 and a 12 month high of $112.82. The company has a market capitalization of $6.24 billion, a P/E ratio of -107.67 and a beta of 1.60. The company’s 50 day simple moving average is $99.27 and its 200 day simple moving average is $80.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Analyst Ratings Changes

QTWO has been the subject of several analyst reports. Compass Point boosted their price target on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC raised their price target 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. DA Davidson boosted their price objective on Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Stifel Nicolaus raised their target price on Q2 from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler boosted their price target on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.80.

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.