First Trust Advisors LP Reduces Position in Q2 Holdings, Inc. $QTWO

First Trust Advisors LP trimmed its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 15.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,555 shares of the technology company’s stock after selling 58,945 shares during the period. First Trust Advisors LP’s holdings in Q2 were worth $29,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Q2 during the first quarter valued at approximately $51,960,000. Norges Bank purchased a new position in Q2 during the 2nd quarter valued at $60,466,000. American Century Companies Inc. boosted its holdings in Q2 by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock valued at $102,303,000 after acquiring an additional 411,930 shares during the period. Jump Financial LLC bought a new position in Q2 in the 1st quarter valued at $10,738,000. Finally, The Manufacturers Life Insurance Company increased its stake in Q2 by 30.5% in the first quarter. The Manufacturers Life Insurance Company now owns 565,503 shares of the technology company’s stock worth $45,246,000 after purchasing an additional 132,038 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QTWO. Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada decreased their price objective on shares of Q2 from $102.00 to $86.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Stifel Nicolaus dropped their target price on shares of Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Needham & Company LLC reduced their target price on shares of Q2 from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lowered their price target on Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.40.

Q2 Stock Performance

NYSE:QTWO opened at $74.40 on Thursday. The firm has a 50-day simple moving average of $67.17 and a 200-day simple moving average of $78.25. Q2 Holdings, Inc. has a one year low of $58.57 and a one year high of $108.51. The firm has a market cap of $4.65 billion, a P/E ratio of 155.00 and a beta of 1.37.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, November 5th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.32). The business had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $197.87 million. Q2 had a net margin of 4.12% and a return on equity of 10.92%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) earnings per share. On average, research analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Michael S. Kerr sold 967 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the transaction, the general counsel directly owned 56,228 shares of the company’s stock, valued at approximately $4,644,432.80. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.