Virtus Fund Advisers LLC Sells 125 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Virtus Fund Advisers LLC lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 652 shares of the technology company’s stock after selling 125 shares during the period. Virtus Fund Advisers LLC’s holdings in Q2 were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its holdings in Q2 by 104.0% during the 3rd quarter. Barclays PLC now owns 163,138 shares of the technology company’s stock worth $13,012,000 after buying an additional 83,181 shares during the period. Principal Financial Group Inc. increased its position in Q2 by 38.6% during the 3rd quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company’s stock valued at $14,095,000 after purchasing an additional 49,233 shares during the period. Atomi Financial Group Inc. bought a new stake in shares of Q2 in the 4th quarter valued at $348,000. Dakota Wealth Management raised its stake in Q2 by 189.8% during the fourth quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock worth $1,613,000 after buying an additional 10,498 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Q2 in the fourth quarter valued at $288,000.

Q2 Stock Up 0.8%

QTWO stock opened at $91.00 on Monday. Q2 Holdings, Inc. has a 1-year low of $55.97 and a 1-year high of $112.82. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -139.99 and a beta of 1.47. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $79.20 and its 200 day moving average is $90.44.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on Q2 from $108.00 to $101.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Robert W. Baird boosted their price objective on Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Compass Point reaffirmed a “neutral” rating and set a $60.00 target price on shares of Q2 in a research report on Monday, April 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Q2 from $119.00 to $106.00 and set a “buy” rating for the company in a report on Friday, March 28th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.80.

Insider Buying and Selling

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,255 shares of company stock worth $14,890,846. Corporate insiders own 0.31% of the company’s stock.

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.