Principal Financial Group Inc. Decreases Position in Q2 Holdings, Inc. (NYSE:QTWO)

Principal Financial Group Inc. decreased its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 72.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,203 shares of the technology company's stock after selling 88,081 shares during the period. Principal Financial Group Inc. owned approximately 0.05% of Q2 worth $2,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its holdings in Q2 by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after purchasing an additional 195 shares during the last quarter. Summit Global Investments raised its stake in Q2 by 2.6% during the first quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after buying an additional 255 shares in the last quarter. NewEdge Advisors LLC raised its stake in Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after buying an additional 275 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Q2 during the first quarter valued at approximately $33,000. Finally, Xponance Inc. raised its stake in Q2 by 13.6% during the fourth quarter. Xponance Inc. now owns 4,352 shares of the technology company's stock valued at $438,000 after buying an additional 521 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada lowered their target price on Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group decreased their price target on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Needham & Company LLC reduced their price objective on Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley raised their price objective on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned 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 a consensus price target of $100.41.

Q2 Price Performance

Shares of QTWO traded down $0.50 on Friday, hitting $90.94. The company's stock had a trading volume of 331,338 shares, compared to its average volume of 635,659. The company has a 50 day moving average price of $90.38 and a 200 day moving average price of $86.74. Q2 Holdings, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $5.67 billion, a PE ratio of -259.83 and a beta of 1.48.

Insider Activity

In other Q2 news, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the transaction, the director owned 16,241 shares in the company, valued at approximately $1,425,472.57. This represents a 5.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael S. Kerr sold 397 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the transaction, the general counsel owned 58,441 shares of the company's stock, valued at approximately $5,429,168.90. This represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,991 shares of company stock valued at $357,153 in the last 90 days. 0.31% of the stock is owned by company insiders.

Q2 Company 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.