Handelsbanken Fonder AB Cuts Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Handelsbanken Fonder AB cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,716 shares of the technology company’s stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Q2 were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Criterion Capital Advisors LLC purchased a new position in Q2 in the fourth quarter worth $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Q2 by 37.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,973 shares of the technology company’s stock worth $563,000 after acquiring an additional 3,534 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of 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 acquiring an additional 256,802 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Q2 by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 434,699 shares of the technology company’s stock valued at $18,870,000 after purchasing an additional 5,435 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Q2 by 9.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,645 shares of the technology company’s stock valued at $1,157,000 after purchasing an additional 2,245 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on QTWO shares. DA Davidson lifted their price objective on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Needham & Company LLC increased their price target on shares of Q2 from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Stifel Nicolaus upped their price target on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Truist Financial reissued a “buy” rating and set a $60.00 target price (up from $50.00) on shares of Q2 in a research note on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.20.

Q2 Stock Down 2.1 %

QTWO stock opened at $51.37 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average price of $50.07 and a 200-day moving average price of $42.77. Q2 Holdings, Inc. has a 52-week low of $21.21 and a 52-week high of $54.50.

Q2 (NYSE:QTWO) last released 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 6.75% and a negative net margin of 10.47%. The business had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. As a group, research analysts forecast that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

Insider Buying and Selling at Q2

In related news, CEO Matthew P. Flake sold 46,937 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $42.20, for a total transaction of $1,980,741.40. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,977,944.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew P. Flake sold 46,937 shares of Q2 stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $42.20, for a total value of $1,980,741.40. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,977,944.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kirk L. Coleman sold 2,904 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the transaction, the president now owns 253,015 shares in the company, valued at approximately $11,641,220.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,639 shares of company stock worth $14,994,784. 3.60% of the stock is owned by corporate insiders.

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.