Federated Hermes Inc. Sells 51,169 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Federated Hermes Inc. cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 708,623 shares of the technology company’s stock after selling 51,169 shares during the period. Federated Hermes Inc. owned about 1.17% of Q2 worth $71,323,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new position in shares of Q2 during the fourth quarter worth approximately $202,645,000. State Street Corp increased its holdings in Q2 by 0.3% during the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC raised its position in Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock valued at $140,175,000 after purchasing an additional 36,025 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Q2 by 107.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock worth $135,449,000 after buying an additional 698,464 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock worth $75,025,000 after buying an additional 655,838 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Citigroup upped their price target on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Needham & Company LLC lifted their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price target on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and a consensus price target of $105.47.

Insider Buying and Selling

In related news, CEO Matthew P. Flake sold 36,023 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the transaction, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan Price sold 42,652 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total value of $3,172,029.24. Following the sale, the chief financial officer now directly owns 209,378 shares in the company, valued at $15,571,441.86. This represents a 16.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock valued at $14,853,965 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Q2 Stock Down 6.8 %

NYSE:QTWO opened at $70.42 on Monday. 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 Holdings, Inc. has a twelve month low of $49.56 and a twelve month high of $112.82. The company has a market cap of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62. The company’s 50 day moving average is $85.20 and its two-hundred day moving average is $90.91.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

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.