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

New York State Common Retirement Fund trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 608,502 shares of the technology company’s stock after selling 57,061 shares during the period. New York State Common Retirement Fund owned approximately 1.04% of Q2 worth $26,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QTWO. Jennison Associates LLC lifted its holdings in shares of Q2 by 147.4% during the third quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after purchasing an additional 729,959 shares during the last quarter. Vanguard Group Inc. lifted its stake in Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares in the last quarter. North Reef Capital Management LP lifted its stake in Q2 by 21.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Q2 by 13.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock worth $95,650,000 after acquiring an additional 256,802 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Q2 in the 3rd quarter worth about $5,534,000.

Insider Buying and Selling at Q2

In other Q2 news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Michael A. Volanoski sold 2,369 shares of Q2 stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total transaction of $118,686.90. Following the sale, the executive now owns 174,024 shares of the company’s stock, valued at approximately $8,718,602.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now directly owns 363,754 shares in the company, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Insiders have sold 337,639 shares of company stock valued at $14,994,784 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

QTWO has been the subject of several research analyst reports. DA Davidson increased their price objective on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Truist Financial reaffirmed a “buy” rating and set a $60.00 price target (up from $50.00) on shares of Q2 in a research note on Friday, April 19th. Canaccord Genuity Group raised their price target on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, TheStreet raised Q2 from a “d+” rating to a “c-” rating in a research note on Friday, December 29th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.20.

Q2 Trading Up 0.7 %

Shares of NYSE QTWO opened at $53.28 on Friday. The business’s 50-day simple moving average is $49.68 and its 200-day simple moving average is $42.36. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. Q2 Holdings, Inc. has a 52 week low of $21.21 and a 52 week high of $54.50.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. On average, analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share 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.