Q2 Holdings, Inc. $QTWO Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 18.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,075 shares of the technology company’s stock after selling 23,480 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Q2 were worth $7,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Q2 by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock valued at $2,803,000 after acquiring an additional 1,525 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Q2 by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after purchasing an additional 95,440 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Q2 by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock valued at $14,907,000 after purchasing an additional 6,909 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Q2 by 67.0% in the 1st quarter. Intech Investment Management LLC now owns 34,561 shares of the technology company’s stock valued at $2,765,000 after purchasing an additional 13,866 shares in the last quarter.

Q2 Stock Down 0.4%

NYSE:QTWO opened at $70.25 on Wednesday. The company has a market cap of $4.39 billion, a P/E ratio of 146.36 and a beta of 1.35. The firm’s 50 day moving average is $71.26 and its two-hundred day moving average is $76.17. Q2 Holdings, Inc. has a fifty-two week low of $58.57 and a fifty-two week high of $102.07.

Q2 (NYSE:QTWO) last announced 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 company 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 firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) earnings per share. Research analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $222,808.32. Following the completion of the sale, the chief operating officer owned 96,046 shares in the company, valued at approximately $7,076,669.28. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirk L. Coleman sold 8,559 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $630,627.12. Following the sale, the insider directly owned 269,128 shares of the company’s stock, valued at approximately $19,829,351.04. This trade represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,883 shares of company stock worth $1,547,778 over the last three months. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on QTWO shares. Wall Street Zen upgraded shares of Q2 from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research report on Wednesday, October 8th. UBS Group set a $90.00 target price on shares of Q2 in a research note on Thursday, November 6th. Stifel Nicolaus reduced their price target on Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.36.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.