California Public Employees Retirement System Sells 6,259 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

California Public Employees Retirement System cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,061 shares of the technology company’s stock after selling 6,259 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Q2 worth $4,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after acquiring an additional 729,959 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after purchasing an additional 487,111 shares in the last quarter. North Reef Capital Management LP boosted its holdings in Q2 by 21.2% during the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after purchasing an additional 362,227 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Q2 by 13.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock worth $95,650,000 after purchasing an additional 256,802 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Q2 in the 3rd quarter valued at about $5,534,000.

Insider Buying and Selling

In other Q2 news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the transaction, the director now directly owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Kirk L. Coleman sold 2,904 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $133,613.04. Following the sale, the president now directly owns 253,015 shares of the company’s stock, valued at $11,641,220.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the transaction, the director now directly owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 245,702 shares of company stock valued at $11,164,992. Company insiders own 3.60% of the company’s stock.

Q2 Price Performance

Q2 stock opened at $60.36 on Monday. The firm has a market capitalization of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. Q2 Holdings, Inc. has a one year low of $21.21 and a one year high of $60.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.23. The business has a fifty day moving average price of $50.79 and a 200-day moving average price of $43.29.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The business had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. As a group, equities research analysts forecast that Q2 Holdings, Inc. will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canaccord Genuity Group lifted their price target on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. DA Davidson lifted their target price on Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley restated an “equal weight” rating and set a $50.00 price target (up previously from $40.00) on shares of Q2 in a research report on Thursday. Needham & Company LLC raised their price objective on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.

About Q2

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.