Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 706,126 shares of the technology company’s stock after selling 122,012 shares during the period. Fred Alger Management LLC owned approximately 1.17% of Q2 worth $71,072,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Deutsche Bank AG grew its holdings in Q2 by 47.5% during the 4th quarter. Deutsche Bank AG now owns 57,009 shares of the technology company’s stock worth $5,738,000 after acquiring an additional 18,346 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Q2 in the fourth quarter valued at $4,258,000. Bridgefront Capital LLC bought a new position in Q2 in the 4th quarter worth about $215,000. Caxton Associates LP bought a new position in Q2 in the 4th quarter worth approximately $287,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Q2 by 364.4% during the fourth quarter. BNP Paribas Financial Markets now owns 142,666 shares of the technology company’s stock valued at $14,359,000 after purchasing an additional 111,946 shares during the period.

Q2 Trading Up 1.3 %

Q2 stock opened at $80.35 on Thursday. Q2 Holdings, Inc. has a 52 week low of $55.97 and a 52 week high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $5.01 billion, a PE ratio of -123.61 and a beta of 1.47. The business’s 50-day simple moving average is $77.30 and its 200-day simple moving average is $90.04.

Q2 (NYSE:QTWO) last issued its quarterly 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%. Equities research analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on QTWO. Raymond James boosted their target price on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Baird R W downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Stephens restated an “overweight” rating and issued a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Royal Bank of Canada increased their price target on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Q2 presently has an average rating of “Moderate Buy” and a consensus price target of $99.60.

Insider Activity

In related news, CFO Jonathan Price sold 42,652 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 209,378 shares of the company’s stock, valued at $15,571,441.86. The trade was a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. The trade was a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,858 shares of company stock valued at $14,853,965. Insiders own 3.00% of the company’s stock.

Q2 Company 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.