Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 404,869 shares of the technology company's stock after selling 63,460 shares during the quarter. New York State Common Retirement Fund owned about 0.65% of Q2 worth $32,394,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QTWO. William Blair Investment Management LLC purchased a new stake in shares of Q2 during the 4th quarter valued at approximately $202,645,000. Assenagon Asset Management S.A. raised its position in shares of Q2 by 1,043.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock valued at $76,408,000 after buying an additional 871,437 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of 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. Arrowstreet Capital Limited Partnership raised its position in shares of Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock valued at $75,025,000 after buying an additional 655,838 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after buying an additional 520,649 shares during the period.

Q2 Stock Down 1.4%

Shares of QTWO stock traded down $1.28 on Tuesday, reaching $89.08. 504,903 shares of the stock were exchanged, compared to its average volume of 641,980. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The business's 50 day moving average price is $89.76 and its 200 day moving average price is $87.02. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -254.51 and a beta of 1.48. Q2 Holdings, Inc. has a twelve month low of $61.51 and a twelve month high of $112.82.

Insider Activity at Q2

In related news, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the transaction, the director directly owned 16,241 shares of the company's stock, valued at $1,425,472.57. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the transaction, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,991 shares of company stock valued at $357,153 over the last ninety days. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QTWO. The Goldman Sachs Group dropped their target price 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. Raymond James Financial dropped their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Stifel Nicolaus lifted their target price on shares of Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 8th. Finally, Needham & Company LLC dropped their target price on shares of Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.41.

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.