State of Wyoming Sells 4,385 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

State of Wyoming reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 52.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,954 shares of the technology company’s stock after selling 4,385 shares during the period. State of Wyoming’s holdings in Q2 were worth $398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QTWO. Proficio Capital Partners LLC bought a new stake in shares of Q2 during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Q2 during the 4th quarter valued at $30,000. TCTC Holdings LLC bought a new stake in Q2 during the 4th quarter valued at $30,000. Ameliora Wealth Management Ltd. bought a new stake in Q2 during the 4th quarter valued at $32,000. Finally, NewEdge Advisors LLC raised its position in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock valued at $38,000 after purchasing an additional 275 shares in the last quarter.

Insider Activity

In related news, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael S. Kerr sold 397 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the transaction, the general counsel now owns 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,255 shares of company stock worth $14,890,846. 0.31% of the stock is currently owned by company insiders.

Q2 Trading Down 0.1%

Shares of NYSE:QTWO opened at $89.91 on Wednesday. Q2 Holdings, Inc. has a 12-month low of $55.97 and a 12-month high of $112.82. The business’s fifty day simple moving average is $79.49 and its 200-day simple moving average is $90.51. The company has a market capitalization of $5.60 billion, a PE ratio of -138.32 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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on QTWO shares. Morgan Stanley lifted their target price on Q2 from $89.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Robert W. Baird lifted their target price on Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Stephens reaffirmed an “overweight” rating and set a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Needham & Company LLC decreased their target price on Q2 from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, 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. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and an average target price of $98.80.

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.