New York State Common Retirement Fund Has $26.42 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

New York State Common Retirement Fund lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 8.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 608,502 shares of the technology company’s stock after selling 57,061 shares during the quarter. New York State Common Retirement Fund’s holdings in Q2 were worth $26,415,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. MCF Advisors LLC boosted its holdings in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after purchasing an additional 878 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after purchasing an additional 963 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Q2 in the 4th quarter valued at $152,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Q2 in the 3rd quarter valued at $268,000.

Q2 Stock Up 0.7 %

Shares of Q2 stock opened at $53.28 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $49.68 and a two-hundred day moving average price of $42.36. Q2 Holdings, Inc. has a 1-year low of $21.21 and a 1-year high of $54.50.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The firm had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. As a group, sell-side analysts expect that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on QTWO. Stifel Nicolaus increased their price target on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group increased their price target on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Piper Sandler increased their price target on Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. DA Davidson increased their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Robert W. Baird increased their price target on Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $48.20.

Insiders Place Their Bets

In other news, CFO David J. Mehok sold 5,806 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the sale, the chief financial officer now directly owns 159,085 shares in the company, valued at approximately $7,319,500.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO David J. Mehok sold 5,806 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the sale, the chief financial officer now directly owns 159,085 shares in the company, valued at approximately $7,319,500.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Kirk L. Coleman sold 2,904 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $133,613.04. Following the completion of the sale, the president now owns 253,015 shares of the company’s stock, valued at $11,641,220.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,639 shares of company stock worth $14,994,784. Company insiders own 3.60% of the company’s stock.

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.