Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 18.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 626,738 shares of the technology company’s stock after selling 144,152 shares during the quarter. New York State Common Retirement Fund owned about 1.04% of Q2 worth $49,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC increased its position in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Q2 in the first quarter valued at about $50,000. International Assets Investment Management LLC raised its stake in shares of Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,812 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Q2 during the second quarter worth about $153,000. Finally, Highland Capital Management LLC purchased a new stake in Q2 in the third quarter valued at approximately $208,000.

Q2 Stock Up 0.5 %

Q2 stock opened at $85.09 on Friday. Q2 Holdings, Inc. has a 12 month low of $30.89 and a 12 month high of $86.25. The stock has a market capitalization of $5.13 billion, a PE ratio of -73.35 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The business has a 50 day simple moving average of $78.47 and a 200-day simple moving average of $68.07.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $172.89 million for the quarter, compared to analysts’ expectations of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. On average, analysts anticipate that Q2 Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock worth $3,109,699 in the last 90 days. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QTWO. Needham & Company LLC reissued an “underperform” rating on shares of Q2 in a research report on Friday, October 18th. Stifel Nicolaus raised their target price on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. Compass Point initiated coverage on Q2 in a research note on Wednesday, September 4th. They set a “buy” rating and a $91.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.64.

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.