Robeco Institutional Asset Management B.V. trimmed its position in shares of Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,355 shares of the technology company’s stock after selling 30,000 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Q2 were worth $11,196,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its position in shares of Q2 by 67.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of Q2 in the third quarter valued at $80,788,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Q2 during the first quarter valued at $1,055,000. Picton Mahoney Asset Management purchased a new stake in Q2 during the 1st quarter worth about $5,591,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after purchasing an additional 683,957 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on QTWO shares. Piper Sandler lifted their price target on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a report on Thursday. Compass Point raised their price objective on Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average target price of $90.79.
Q2 Stock Performance
Shares of QTWO stock opened at $102.17 on Friday. The company’s fifty day simple moving average is $79.80 and its 200-day simple moving average is $69.08. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 Holdings, Inc. has a 52 week low of $32.97 and a 52 week high of $105.00. The company has a market cap of $6.16 billion, a PE ratio of -88.08 and a beta of 1.58.
Q2 (NYSE:QTWO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The company had revenue of $175.02 million for the quarter, compared to analysts’ expectations of $173.31 million. As a group, equities research analysts anticipate that Q2 Holdings, Inc. will post -0.02 EPS for the current year.
Insider Buying and Selling at Q2
In other news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jonathan Price sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the completion of the sale, the executive vice president now owns 215,079 shares of the company’s stock, valued at approximately $15,408,259.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the 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 transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This trade 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 valued at $3,109,699 over the last 90 days. 3.00% of the stock is owned by corporate 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.
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