Principal Financial Group Inc. Grows Stock Holdings in Q2 Holdings, Inc. $QTWO

Principal Financial Group Inc. increased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 502.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,917 shares of the technology company’s stock after purchasing an additional 251,807 shares during the quarter. Principal Financial Group Inc.’s holdings in Q2 were worth $21,856,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Q2 in the 2nd quarter worth $26,000. Cullen Frost Bankers Inc. bought a new position in Q2 in the third quarter valued at about $27,000. Salomon & Ludwin LLC purchased a new position in Q2 in the third quarter worth about $30,000. First Horizon Corp bought a new stake in shares of Q2 during the 3rd quarter valued at about $37,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after purchasing an additional 539 shares during the period.

Insider Buying and Selling at Q2

In related news, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the transaction, the executive directly owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 269,128 shares in the company, valued at approximately $19,829,351.04. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,883 shares of company stock valued at $1,547,778 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QTWO. UBS Group set a $82.00 price objective on shares of Q2 in a report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a research note on Thursday, January 22nd. Needham & Company LLC reduced their price objective on Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research lowered Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.27.

Q2 Stock Up 3.3%

Shares of Q2 stock opened at $57.01 on Friday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 118.77 and a beta of 1.36. The stock’s 50-day simple moving average is $69.41 and its 200-day simple moving average is $71.86. Q2 Holdings, Inc. has a 52 week low of $54.63 and a 52 week high of $102.07.

Q2 (NYSE:QTWO) last issued its earnings results 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). Q2 had a net margin of 4.12% and a return on equity of 10.92%. The business had revenue of $201.70 million for the quarter, compared to the consensus estimate of $197.87 million. During the same period last year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.