State of Wyoming Sells 4,385 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

State of Wyoming lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 52.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,954 shares of the technology company's stock after selling 4,385 shares during the period. State of Wyoming's holdings in Q2 were worth $398,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in Q2 during the fourth quarter valued at about $202,645,000. Massachusetts Financial Services Co. MA boosted its stake in Q2 by 107.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after acquiring an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership grew 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 acquiring an additional 655,838 shares during the period. Ameriprise Financial Inc. increased its stake 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 worth $101,937,000 after purchasing an additional 520,649 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Q2 by 893.5% during the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock worth $47,459,000 after purchasing an additional 424,062 shares during the last quarter.

Q2 Price Performance

Shares of QTWO stock traded down $0.64 during trading hours on Monday, reaching $86.66. The stock had a trading volume of 285,017 shares, compared to its average volume of 649,563. The stock's fifty day simple moving average is $80.48 and its 200 day simple moving average is $90.43. The firm has a market capitalization of $5.40 billion, a PE ratio of -133.32 and a beta of 1.47. Q2 Holdings, Inc. has a 12 month low of $55.97 and a 12 month high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling

In other news, CRO Michael A. Volanoski sold 15,005 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $1,112,170.60. Following the transaction, the executive now owns 197,966 shares of the company's stock, valued at $14,673,239.92. This represents a 7.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total transaction of $36,881.30. Following the sale, the general counsel now owns 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,255 shares of company stock worth $14,890,656. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on QTWO. Compass Point reiterated a "neutral" rating and issued a $60.00 price objective on shares of Q2 in a research note on Monday, April 7th. The Goldman Sachs Group lowered their target price on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Stifel Nicolaus increased their price target on Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Robert W. Baird lifted their price objective on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Stephens restated an "overweight" rating and issued a $115.00 price objective on shares of Q2 in a research note on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.80.

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.