Alliancebernstein L.P. Has $7.18 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Alliancebernstein L.P. lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,302 shares of the technology company's stock after selling 3,557 shares during the period. Alliancebernstein L.P. owned about 0.12% of Q2 worth $7,177,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC bought a new position in shares of Q2 during the fourth quarter valued at approximately $202,645,000. State Street Corp lifted its stake in Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock valued at $133,118,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Q2 by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company's stock worth $107,963,000 after acquiring an additional 19,520 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Q2 by 732.2% in the 4th 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in Q2 by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock valued at $51,036,000 after purchasing an additional 10,636 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QTWO. Royal Bank of Canada lifted their price target on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Citigroup raised their price target on Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a report on Friday, March 28th. KeyCorp raised shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price on the stock in a research note on Wednesday, December 18th. Finally, Raymond James boosted their price target on shares of Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.33.

Insider Activity

In other news, CRO Michael A. Volanoski sold 15,005 shares of Q2 stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $1,112,170.60. Following the transaction, the executive now owns 197,966 shares in the company, valued at approximately $14,673,239.92. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the sale, the chief executive officer now directly owns 453,849 shares of the company's stock, valued at approximately $35,527,299.72. This represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock worth $14,853,965 over the last 90 days. 3.00% of the stock is owned by company insiders.

Q2 Price Performance

Shares of QTWO traded down $0.14 during trading hours on Thursday, hitting $74.77. 58,660 shares of the company were exchanged, compared to its average volume of 648,271. The firm has a fifty day simple moving average of $80.83 and a 200-day simple moving average of $90.27. The company has a market capitalization of $4.54 billion, a PE ratio of -115.29 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a one year low of $49.56 and a one year high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, sell-side analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.