Q2 Holdings, Inc. (NYSE:QTWO) Holdings Lowered by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,279 shares of the technology company’s stock after selling 760 shares during the period. Virtus Investment Advisers Inc.’s holdings in Q2 were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in QTWO. William Blair Investment Management LLC bought a new position in Q2 during the 4th quarter valued at $202,645,000. Massachusetts Financial Services Co. MA boosted its stake in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after buying an additional 698,464 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Q2 by 732.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock worth $75,025,000 after acquiring an additional 655,838 shares during the period. Ameriprise Financial Inc. raised its position in Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock worth $101,937,000 after acquiring an additional 520,649 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock valued at $47,459,000 after acquiring an additional 424,062 shares during the last quarter.

Q2 Price Performance

QTWO opened at $91.00 on Monday. The stock has a fifty day moving average price of $79.20 and a 200 day moving average price of $90.44. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 1 year low of $55.97 and a 1 year high of $112.82. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -139.99 and a beta of 1.47.

Wall Street Analysts Forecast Growth

QTWO has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $115.00 price objective on shares of Q2 in a research note on Thursday, February 13th. Raymond James cut their price objective on Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Truist Financial restated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. Needham & Company LLC reduced their target price on Q2 from $125.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group dropped their price target on Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and a consensus target price of $98.80.

Insider Activity

In other news, CFO Jonathan Price sold 42,652 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the transaction, the chief financial officer now owns 209,378 shares in the company, valued at approximately $15,571,441.86. This trade represents a 16.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,255 shares of company stock worth $14,890,846 in the last three months. 0.31% of the stock is owned by insiders.

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.