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

New York State Common Retirement Fund cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 626,738 shares of the technology company’s stock after selling 144,152 shares during the quarter. New York State Common Retirement Fund’s holdings in Q2 were worth $49,995,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QTWO. US Bancorp DE grew its holdings in shares of Q2 by 10.5% during the 3rd quarter. US Bancorp DE now owns 29,632 shares of the technology company’s stock worth $2,364,000 after purchasing an additional 2,816 shares during the period. Highland Capital Management LLC purchased a new position in shares of Q2 in the third quarter valued at approximately $208,000. Dakota Wealth Management grew its holdings in shares of Q2 by 41.6% in the third quarter. Dakota Wealth Management now owns 5,532 shares of the technology company’s stock valued at $441,000 after purchasing an additional 1,626 shares in the last quarter. International Assets Investment Management LLC boosted its position in 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 valued at $146,000 after buying an additional 1,812 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Q2 by 17.9% in the third quarter. Raymond James & Associates now owns 128,654 shares of the technology company’s stock worth $10,263,000 after acquiring an additional 19,495 shares in the last quarter.

Insider Buying and Selling at Q2

In related news, EVP Jonathan Price sold 11,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $71.64, for a total transaction of $788,040.00. Following the sale, the executive vice president now owns 215,079 shares of the company’s stock, valued at $15,408,259.56. This trade represents 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 at the SEC website. In related news, EVP Jonathan Price sold 11,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $71.64, for a total transaction of $788,040.00. Following the transaction, the executive vice president now directly owns 215,079 shares in the company, valued at approximately $15,408,259.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,963 shares of company stock worth $3,109,699. 3.00% of the stock is owned by insiders.

Q2 Stock Performance

QTWO opened at $85.09 on Friday. The stock’s 50 day simple moving average is $78.47 and its 200 day simple moving average is $68.07. The stock has a market cap of $5.13 billion, a P/E ratio of -73.35 and a beta of 1.58. Q2 Holdings, Inc. has a 1-year low of $30.89 and a 1-year high of $86.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The business had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. As a group, equities analysts anticipate that Q2 Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QTWO has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $78.00 price objective (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Compass Point initiated coverage on shares of Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price for the company. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Q2 in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and an average target price of $73.64.

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.