Northern Trust Corp Purchases 38,931 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Northern Trust Corp lifted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,358 shares of the technology company's stock after purchasing an additional 38,931 shares during the period. Northern Trust Corp owned 1.01% of Q2 worth $61,533,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new stake in Q2 in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Q2 during the fourth quarter valued at approximately $30,000. TCTC Holdings LLC acquired a new position in shares of Q2 during the fourth quarter worth approximately $30,000. Ameliora Wealth Management Ltd. bought a new position in shares of Q2 in the 4th quarter worth $32,000. Finally, NewEdge Advisors LLC grew its position in Q2 by 269.6% in 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 during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QTWO shares. The Goldman Sachs Group dropped their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Raymond James lowered their price objective on Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday. Truist Financial reaffirmed a "buy" rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price target on Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research report on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Q2 presently has an average rating of "Moderate Buy" and a consensus target price of $98.80.

Insider Buying and Selling at Q2

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the transaction, the insider now directly owns 113,278 shares in the company, valued at approximately $8,396,165.36. This represents a 5.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the company'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 value of $87,960.00. Following the completion of the sale, the director now directly owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock valued at $14,853,965 in the last three months. Company insiders own 3.00% of the company's stock.

Q2 Stock Performance

NYSE:QTWO traded down $1.21 on Friday, reaching $89.58. 944,699 shares of the company's stock were exchanged, compared to its average volume of 644,514. The stock has a fifty day simple moving average of $77.63 and a 200-day simple moving average of $90.14. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of -137.81 and a beta of 1.47. Q2 Holdings, Inc. has a 52 week low of $55.97 and a 52 week high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, sell-side analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.