Q2 Holdings, Inc. (NYSE:QTWO) Holdings Lowered by Tensile Capital Management LP

Tensile Capital Management LP reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 867,767 shares of the technology company's stock after selling 65,000 shares during the period. Q2 comprises 9.1% of Tensile Capital Management LP's portfolio, making the stock its 3rd biggest position. Tensile Capital Management LP owned about 1.44% of Q2 worth $87,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of QTWO. Proficio Capital Partners LLC bought a new stake in shares of Q2 during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Q2 during the 4th quarter valued at $30,000. TCTC Holdings LLC bought a new stake in Q2 during the 4th quarter valued at $30,000. Ameliora Wealth Management Ltd. bought a new stake in Q2 during the 4th quarter valued at $32,000. Finally, NewEdge Advisors LLC raised its position in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after purchasing an additional 275 shares in the last quarter.

Q2 Stock Performance

Shares of Q2 stock traded down $0.07 during midday trading on Tuesday, hitting $89.91. The company had a trading volume of 331,207 shares, compared to its average volume of 649,070. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -138.32 and a beta of 1.47. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $79.49 and a 200 day simple moving average of $90.51. Q2 Holdings, Inc. has a 12-month low of $55.97 and a 12-month high of $112.82.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial reiterated a "buy" rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Compass Point reissued a "neutral" rating and issued a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Citigroup boosted their price target on Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.80.

Insider Activity at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of the business'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 owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the sale, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,255 shares of company stock valued at $14,890,846 in the last three months. 0.31% of the stock is owned by insiders.

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.