Northwest & Ethical Investments L.P. Sells 2,525 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Northwest & Ethical Investments L.P. reduced its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 62.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the technology company’s stock after selling 2,525 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Q2 were worth $120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its stake in shares of Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after buying an additional 34,300 shares in the last quarter. Hood River Capital Management LLC raised its holdings in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after acquiring an additional 67,757 shares during the period. American Century Companies Inc. lifted its position in shares of Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after acquiring an additional 1,190,274 shares in the last quarter. Perpetual Ltd bought a new position in shares of Q2 in the third quarter worth about $80,788,000. Finally, Dimensional Fund Advisors LP raised its stake in Q2 by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,372 shares of the technology company’s stock valued at $60,474,000 after purchasing an additional 86,329 shares during the period.

Q2 Price Performance

Shares of QTWO opened at $104.74 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The company’s fifty day moving average price is $88.85 and its 200-day moving average price is $74.23. Q2 Holdings, Inc. has a 1-year low of $35.20 and a 1-year high of $108.00. The firm has a market capitalization of $6.33 billion, a PE ratio of -109.10 and a beta of 1.58.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction dated 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 owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,493 shares of company stock worth $196,863. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on QTWO. Royal Bank of Canada upped their price target on Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Compass Point upped their price objective on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley raised their target price on shares of Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Citigroup lowered Q2 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. Finally, Truist Financial restated a “buy” rating and issued a $100.00 target price (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $91.50.

About Q2

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.