Northern Trust Corp Grows Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Northern Trust Corp raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 611,358 shares of the technology company's stock after purchasing an additional 38,931 shares during the period. Northern Trust Corp owned approximately 1.01% of Q2 worth $61,533,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Q2 in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in Q2 in the fourth quarter worth $30,000. TCTC Holdings LLC purchased a new stake in Q2 during the fourth quarter valued at about $30,000. Ameliora Wealth Management Ltd. bought a new stake in Q2 during the fourth quarter worth about $32,000. Finally, NewEdge Advisors LLC increased its position in shares of 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 during the last quarter.

Insider Buying and Selling

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the 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 transaction, the insider now directly owns 113,278 shares of the company's stock, valued at approximately $8,396,165.36. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. This trade represents a 11.12% 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 over the last three months. 0.31% of the stock is owned by company insiders.

Q2 Price Performance

QTWO stock traded up $2.40 during trading on Monday, hitting $92.02. 118,927 shares of the company's stock traded hands, compared to its average volume of 643,539. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a 52 week low of $55.97 and a 52 week high of $112.82. The business has a fifty day simple moving average of $77.63 and a 200 day simple moving average of $90.24. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -140.70 and a beta of 1.47.

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

Analyst Ratings Changes

Several brokerages recently commented on QTWO. Citigroup lifted their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Stephens reiterated an "overweight" rating and issued a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Morgan Stanley raised their target price on Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday. Raymond James decreased their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Q2 currently has an average rating of "Moderate Buy" and an average target price of $98.80.

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.