Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 3,611,850 shares of the technology company’s stock after selling 105,355 shares during the period. Q2 makes up approximately 1.4% of Wasatch Advisors LP’s investment portfolio, making the stock its 22nd biggest position. Wasatch Advisors LP owned 0.06% of Q2 worth $288,117,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. CWM LLC increased its position in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Q2 by 1.4% during the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock valued at $1,007,000 after acquiring an additional 237 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Q2 by 3.1% during the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock valued at $824,000 after acquiring an additional 407 shares during the last quarter. Arizona State Retirement System increased its position in shares of Q2 by 2.6% during the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock valued at $998,000 after acquiring an additional 423 shares during the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of Q2 by 9.6% during the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock valued at $406,000 after acquiring an additional 591 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BTIG Research lifted their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Piper Sandler lifted their price objective on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. DA Davidson lifted their price objective on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Q2 Stock Up 0.2 %

Shares of Q2 stock opened at $104.74 on Friday. Q2 Holdings, Inc. has a 52-week low of $35.20 and a 52-week high of $108.00. The company has a 50 day moving average of $88.85 and a 200 day moving average of $74.14. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $6.33 billion, a P/E ratio of -109.10 and a beta of 1.58.

Insider Buying and Selling

In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 548 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now owns 18,241 shares of the company’s stock, valued at $1,914,392.95. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,493 shares of company stock worth $196,863 over the last 90 days. 3.00% of the stock is owned by insiders.

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.