Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,339 shares of the technology company’s stock after selling 231 shares during the quarter. Arizona State Retirement System’s holdings in Q2 were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QTWO. Natixis Advisors L.P. acquired a new stake in shares of Q2 in the 1st quarter worth about $774,000. MetLife Investment Management LLC grew its position in Q2 by 54.1% in the 1st quarter. MetLife Investment Management LLC now owns 29,137 shares of the technology company’s stock worth $1,796,000 after purchasing an additional 10,226 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Q2 by 3.6% in the first quarter. Rhumbline Advisers now owns 57,575 shares of the technology company’s stock valued at $3,549,000 after purchasing an additional 1,997 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Q2 by 25.7% during the first quarter. Raymond James Trust N.A. now owns 4,186 shares of the technology company’s stock valued at $258,000 after buying an additional 855 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Q2 by 39.9% during the first quarter. Dimensional Fund Advisors LP now owns 228,857 shares of the technology company’s stock worth $14,109,000 after buying an additional 65,252 shares during the period.

Insider Activity

In related news, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction on Friday, March 15th. The stock was sold at an average price of $48.49, for a total transaction of $436,410.00. Following the completion of the sale, the director now owns 372,754 shares of the company’s stock, valued at $18,074,841.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Q2 news, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $48.49, for a total value of $436,410.00. Following the completion of the sale, the director now directly owns 372,754 shares of the company’s stock, valued at $18,074,841.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew P. Flake sold 7,674 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $45.00, for a total transaction of $345,330.00. Following the transaction, the chief executive officer now owns 504,769 shares in the company, valued at approximately $22,714,605. The disclosure for this sale can be found here. Insiders have sold a total of 336,313 shares of company stock worth $14,889,214 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Q2 Stock Down 0.6 %

Shares of Q2 stock opened at $49.80 on Friday. Q2 Holdings, Inc. has a 1 year low of $21.21 and a 1 year high of $53.96. The company has a market cap of $2.94 billion, a P/E ratio of -44.07 and a beta of 1.49. 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 stock has a 50-day moving average price of $48.56 and a 200 day moving average price of $41.50.

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

Wall Street Analyst Weigh In

QTWO has been the topic of several recent analyst reports. DA Davidson lifted their target price on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Needham & Company LLC upped their price objective on shares of Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler raised their target price on shares of Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. TheStreet raised shares of Q2 from a “d+” rating to a “c-” rating in a research note on Friday, December 29th. Finally, Robert W. Baird increased their price objective on shares of Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.40.

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.