Comerica Bank Sells 28,644 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Comerica Bank lowered its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,881 shares of the technology company's stock after selling 28,644 shares during the quarter. Comerica Bank owned approximately 0.25% of Q2 worth $14,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. William Blair Investment Management LLC bought a new stake in Q2 in the fourth quarter valued at approximately $202,645,000. Capital Research Global Investors increased its stake in shares of Q2 by 11.2% in the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock worth $152,825,000 after buying an additional 152,872 shares during the period. Geode Capital Management LLC raised its holdings in Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock valued at $140,175,000 after buying an additional 36,025 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after buying an additional 698,464 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in 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 last quarter.

Q2 Price Performance

QTWO stock opened at $79.37 on Friday. 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 firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -122.10 and a beta of 1.61. The firm has a 50 day moving average price of $77.76 and a 200-day moving average price of $90.08. Q2 Holdings, Inc. has a 52-week low of $54.04 and a 52-week high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS 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%. Equities research analysts forecast that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity at Q2

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the completion of the transaction, the insider now directly owns 113,278 shares of the company's stock, valued at $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock valued at $14,853,965 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on Q2 from $125.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday. Raymond James boosted their target price on Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a "buy" rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, Citigroup upped their price objective on shares of Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

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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