Q2 Holdings, Inc. (NYSE:QTWO) Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 25.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 468,329 shares of the technology company’s stock after selling 158,409 shares during the period. New York State Common Retirement Fund’s holdings in Q2 were worth $47,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new position in shares of Q2 in the 4th quarter worth approximately $32,000. CWM LLC grew its stake in shares of Q2 by 199.8% in the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after purchasing an additional 961 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,812 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after purchasing an additional 964 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QTWO. Raymond James lifted their price objective on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird reissued a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Compass Point lifted their target price on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Stephens reissued an “overweight” rating and issued a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.13.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.12, for a total value of $543,652.76. Following the completion of the sale, the executive now directly owns 218,371 shares in the company, valued at $23,173,530.52. The trade was a 2.29 % 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, President Kirk L. Coleman sold 10,428 shares of Q2 stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares of the company’s stock, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock worth $3,061,035 over the last ninety days. 3.00% of the stock is currently owned by insiders.

Q2 Stock Performance

QTWO stock opened at $92.05 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $5.59 billion, a P/E ratio of -141.61 and a beta of 1.61. The firm has a 50 day simple moving average of $97.44 and a 200 day simple moving average of $88.94. Q2 Holdings, Inc. has a 52 week low of $41.23 and a 52 week high of $112.82.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Research analysts anticipate that Q2 Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

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.