Swiss National Bank Sells 12,800 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Swiss National Bank reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,100 shares of the technology company's stock after selling 12,800 shares during the period. Swiss National Bank owned 0.20% of Q2 worth $4,996,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company's stock worth $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Q2 by 13.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company's stock worth $95,650,000 after purchasing an additional 256,802 shares during the last quarter. North Reef Capital Management LP lifted its holdings in Q2 by 21.2% during the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company's stock worth $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Jennison Associates LLC lifted its holdings in Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company's stock worth $70,186,000 after acquiring an additional 391,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Q2 by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,147,474 shares of the technology company's stock worth $37,029,000 after acquiring an additional 89,674 shares in the last quarter.

Insiders Place Their Bets

In other Q2 news, Director James Offerdahl sold 1,040 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $44.81, for a total transaction of $46,602.40. Following the transaction, the director now owns 17,130 shares of the company's stock, valued at $767,595.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, President Kirk L. Coleman sold 2,904 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $133,613.04. Following the completion of the sale, the president now owns 253,015 shares in the company, valued at $11,641,220.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 1,040 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $44.81, for a total value of $46,602.40. Following the sale, the director now owns 17,130 shares of the company's stock, valued at approximately $767,595.30. The disclosure for this sale can be found here. Insiders have sold a total of 167,181 shares of company stock valued at $7,851,375 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Q2 from $48.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their target price on Q2 from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, May 2nd. Truist Financial restated a "buy" rating and issued a $65.00 price target (up from $60.00) on shares of Q2 in a report on Thursday, May 2nd. Royal Bank of Canada boosted their price target on Q2 from $46.00 to $60.00 and gave the company a "sector perform" rating in a report on Thursday, May 2nd. Finally, BTIG Research boosted their price target on Q2 from $48.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.33.

Q2 Stock Performance

NYSE QTWO traded up $2.06 during trading on Friday, reaching $63.31. 574,176 shares of the company's stock were exchanged, compared to its average volume of 681,681. The business has a 50 day moving average price of $53.85 and a 200-day moving average price of $45.29. The stock has a market capitalization of $3.80 billion, a P/E ratio of -46.90 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. Q2 Holdings, Inc. has a fifty-two week low of $26.54 and a fifty-two week high of $63.50.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Sell-side analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal 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.