Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by abrdn plc

abrdn plc cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 417,222 shares of the technology company’s stock after selling 42,422 shares during the period. abrdn plc owned approximately 0.69% of Q2 worth $33,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QTWO. Highland Capital Management LLC acquired a new position in shares of Q2 during the third quarter worth $208,000. Dakota Wealth Management increased its stake in Q2 by 41.6% during the 3rd quarter. Dakota Wealth Management now owns 5,532 shares of the technology company’s stock worth $441,000 after buying an additional 1,626 shares during the period. International Assets Investment Management LLC lifted its holdings in Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after buying an additional 1,812 shares in the last quarter. Raymond James & Associates boosted its position in Q2 by 17.9% in the 3rd quarter. Raymond James & Associates now owns 128,654 shares of the technology company’s stock valued at $10,263,000 after buying an additional 19,495 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of Q2 by 26.7% during the third quarter. nVerses Capital LLC now owns 3,800 shares of the technology company’s stock valued at $303,000 after acquiring an additional 800 shares in the last quarter.

Insider Activity at Q2

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

Q2 Price Performance

Shares of NYSE:QTWO opened at $85.64 on Thursday. The company has a market cap of $5.16 billion, a PE ratio of -73.83 and a beta of 1.59. Q2 Holdings, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $86.25. The firm has a 50-day simple moving average of $77.77 and a 200 day simple moving average of $67.47. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post -0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BTIG Research boosted their price target on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. The Goldman Sachs Group upped their target price on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. DA Davidson restated a “neutral” rating and issued a $76.00 price target on shares of Q2 in a research note on Monday, September 30th. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $72.00 to $90.00 in a research note on Friday, October 18th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Q2 in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.64.

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.