Hillsdale Investment Management Inc. Sells 16,980 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Hillsdale Investment Management Inc. lowered its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,236 shares of the technology company’s stock after selling 16,980 shares during the quarter. Hillsdale Investment Management Inc. owned 0.11% of Q2 worth $6,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of QTWO. Natixis Advisors LLC increased its stake in shares of Q2 by 4.5% during the 3rd quarter. Natixis Advisors LLC now owns 17,435 shares of the technology company’s stock worth $1,391,000 after purchasing an additional 744 shares during the last quarter. Swiss National Bank grew its stake in Q2 by 1.0% in the 3rd quarter. Swiss National Bank now owns 117,400 shares of the technology company’s stock valued at $9,365,000 after buying an additional 1,200 shares in the last quarter. Pathstone Holdings LLC grew its stake in Q2 by 7.0% in the 3rd quarter. Pathstone Holdings LLC now owns 31,191 shares of the technology company’s stock valued at $2,488,000 after buying an additional 2,035 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Q2 in the 3rd quarter valued at approximately $2,559,000. Finally, Moran Wealth Management LLC grew its stake in Q2 by 31.0% in the 3rd quarter. Moran Wealth Management LLC now owns 7,900 shares of the technology company’s stock valued at $630,000 after buying an additional 1,870 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on QTWO shares. Needham & Company LLC lifted their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.27.

Insider Transactions at Q2

In other news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,835 shares of company stock worth $11,959,517 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Q2 Trading Up 0.6 %

Shares of QTWO stock opened at $79.10 on Friday. Q2 Holdings, Inc. has a 12-month low of $46.50 and a 12-month high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $87.85 and its 200 day moving average is $90.18. The stock has a market capitalization of $4.80 billion, a P/E ratio of -121.69 and a beta of 1.62.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Research analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current 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.