Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 706,126 shares of the technology company's stock after selling 122,012 shares during the period. Fred Alger Management LLC owned 1.17% of Q2 worth $71,072,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QTWO. William Blair Investment Management LLC purchased a new position in Q2 in the fourth quarter worth approximately $202,645,000. Capital Research Global Investors raised its stake in Q2 by 11.2% in the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock valued at $152,825,000 after buying an additional 152,872 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock worth $140,175,000 after purchasing an additional 36,025 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock worth $135,449,000 after purchasing an additional 698,464 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Q2 by 105.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after acquiring an additional 520,649 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Citigroup upped their target price on Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Stifel Nicolaus increased their price objective on shares of Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Truist Financial reiterated a "buy" rating and issued a $110.00 price target (up from $100.00) on shares of Q2 in a report on Thursday, February 13th. Finally, Stephens restated an "overweight" rating and set a $115.00 target price on shares of Q2 in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, 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 Q2 news, CFO Jonathan Price sold 42,652 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the completion of the transaction, the chief financial officer now owns 209,378 shares of the company's stock, valued at approximately $15,571,441.86. This trade represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew P. Flake sold 36,023 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 485,666 shares of the company's stock, valued at $39,023,263.10. This represents a 6.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,858 shares of company stock worth $14,853,965. Insiders own 0.31% of the company's stock.

Q2 Stock Performance

QTWO stock traded up $1.03 during mid-day trading on Tuesday, hitting $92.86. 618,873 shares of the company were exchanged, compared to its average volume of 646,527. Q2 Holdings, Inc. has a 1-year low of $55.97 and a 1-year high of $112.82. The business has a 50 day simple moving average of $77.85 and a 200-day simple moving average of $90.30. The stock has a market capitalization of $5.79 billion, a PE ratio of -142.86 and a beta of 1.47. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58.

Q2 (NYSE:QTWO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate 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.

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.