Q2 Holdings, Inc. (NYSE:QTWO) Position Reduced by Next Century Growth Investors LLC

Next Century Growth Investors LLC reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,668 shares of the technology company's stock after selling 144,196 shares during the period. Q2 makes up 1.6% of Next Century Growth Investors LLC's portfolio, making the stock its 14th biggest position. Next Century Growth Investors LLC owned approximately 0.35% of Q2 worth $21,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Q2 during the fourth quarter valued at approximately $29,000. Quarry LP increased its holdings in Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock valued at $30,000 after acquiring an additional 336 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Q2 during the fourth quarter valued at approximately $30,000. TCTC Holdings LLC bought a new stake in Q2 in the 4th quarter worth approximately $30,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of Q2 in the fourth quarter valued at $32,000.

Insider Activity

In other news, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction dated 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 owns 17,241 shares of the company's stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 36,023 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. This trade represents a 6.91 % decrease in their ownership of the stock. 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 quarter. Company insiders own 3.00% of the company's stock.

Q2 Stock Up 0.5 %

QTWO stock traded up $0.38 during midday trading on Thursday, reaching $75.28. 138,889 shares of the company were exchanged, compared to its average volume of 648,594. The stock's 50-day simple moving average is $80.83 and its 200 day simple moving average is $90.27. Q2 Holdings, Inc. has a 1-year low of $49.56 and a 1-year high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -115.78 and a beta of 1.61.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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%. On average, equities analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QTWO. Stifel Nicolaus upped their price objective on Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Citigroup lifted their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Robert W. Baird reaffirmed a "neutral" rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Stephens reissued an "overweight" rating and set a $115.00 price objective on shares of Q2 in a report on Thursday, February 13th. Finally, Raymond James boosted their price target on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.33.

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.