The Manufacturers Life Insurance Company Reduces Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

The Manufacturers Life Insurance Company lowered its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 433,465 shares of the technology company's stock after selling 113,608 shares during the period. The Manufacturers Life Insurance Company owned 0.72% of Q2 worth $43,628,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of Q2 during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in Q2 during the 4th quarter worth approximately $30,000. Ameliora Wealth Management Ltd. acquired a new stake in Q2 during the 4th quarter worth approximately $32,000. NewEdge Advisors LLC grew its stake in shares of 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 last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Q2 during the fourth quarter worth approximately $98,000.

Q2 Price Performance

Shares of Q2 stock traded up $0.04 on Tuesday, hitting $80.43. The company's stock had a trading volume of 99,399 shares, compared to its average volume of 636,989. The company has a market capitalization of $5.01 billion, a P/E ratio of -123.58 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 firm has a fifty day moving average price of $77.56 and a 200-day moving average price of $90.18. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 5.53% and a positive return on equity of 0.85%. On average, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Q2

In related 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 value of $3,172,029.24. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Flake sold 36,023 shares of Q2 stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the transaction, the chief executive officer now owns 485,666 shares in the company, valued at approximately $39,023,263.10. This trade represents a 6.91 % 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. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Q2 from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Raymond James boosted their price target on shares of Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Robert W. Baird reissued a "neutral" rating and set a $99.00 price target (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Royal Bank of Canada lifted their price objective on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Finally, Stephens reissued an "overweight" rating and set a $115.00 target price on shares of Q2 in a research note on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

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.