Handelsbanken Fonder AB Sells 113,300 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Handelsbanken Fonder AB reduced its position in Q2 Holdings, Inc. (NYSE:QTWO) by 23.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 360,516 shares of the technology company’s stock after selling 113,300 shares during the period. Handelsbanken Fonder AB’s holdings in Q2 were worth $36,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in Q2 by 199.8% during the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company’s stock valued at $115,000 after acquiring an additional 961 shares during the period. Creative Planning grew its position in shares of Q2 by 62.5% in the third quarter. Creative Planning now owns 19,834 shares of the technology company’s stock valued at $1,582,000 after purchasing an additional 7,631 shares in the last quarter. Raymond James & Associates grew its position 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 valued at $10,263,000 after purchasing an additional 19,495 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Q2 by 7,878.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after purchasing an additional 1,812 shares during the period. Finally, Dakota Wealth Management lifted its holdings in Q2 by 41.6% during the 3rd quarter. Dakota Wealth Management now owns 5,532 shares of the technology company’s stock worth $441,000 after purchasing an additional 1,626 shares in the last quarter.

Insider Activity at Q2

In other Q2 news, President Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $907,254.00. Following the completion of the sale, the president now owns 340,903 shares in the company, valued at approximately $36,135,718. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 5,123 shares of the 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 sale, the executive now directly owns 218,371 shares of the company’s stock, valued at approximately $23,173,530.52. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,288 shares of company stock worth $3,003,523 in the last ninety days. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on QTWO shares. Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Needham & Company LLC upped their target price on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Robert W. Baird restated a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Finally, DA Davidson increased 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. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.13.

Q2 Stock Performance

Shares of NYSE QTWO opened at $90.74 on Friday. The stock’s 50-day moving average is $97.14 and its 200 day moving average is $88.95. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of -139.59 and a beta of 1.61. Q2 Holdings, Inc. has a 1-year low of $41.23 and a 1-year 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.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal 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.