CANADA LIFE ASSURANCE Co Sells 12,865 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

CANADA LIFE ASSURANCE Co trimmed its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,084 shares of the technology company's stock after selling 12,865 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Q2 worth $5,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock valued at $11,208,000 after acquiring an additional 42,433 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Q2 during the 4th quarter worth approximately $288,000. Charles Schwab Investment Management Inc. boosted its position in Q2 by 2.1% in 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 buying an additional 10,636 shares during the period. Dakota Wealth Management increased its position in shares of Q2 by 189.8% during the fourth quarter. Dakota Wealth Management now owns 16,030 shares of the technology company's stock worth $1,613,000 after acquiring an additional 10,498 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Q2 during the 4th quarter worth $18,271,000.

Insiders Place Their Bets

In related news, CEO Matthew P. Flake sold 56,799 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now directly owns 17,241 shares of the company's stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,858 shares of company stock worth $14,853,965. Corporate insiders own 3.00% of the company's stock.

Q2 Stock Performance

Shares of Q2 stock traded down $0.09 on Tuesday, reaching $78.63. The stock had a trading volume of 32,218 shares, compared to its average volume of 649,369. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $4.90 billion, a P/E ratio of -121.26 and a beta of 1.61. Q2 Holdings, Inc. has a fifty-two week low of $50.91 and a fifty-two week high of $112.82. The business's 50-day moving average price is $78.28 and its two-hundred day moving average price is $90.24.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on QTWO. Raymond James upped their price objective on shares of Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Compass Point reissued a "neutral" rating and set a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Needham & Company LLC raised their price target on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Stephens restated an "overweight" rating and set a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Finally, Citigroup upped their target price on Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Q2 has an average rating of "Moderate Buy" and an average price target of $100.60.

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.