Wasatch Advisors LP Lowers Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Wasatch Advisors LP lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 41.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,116,062 shares of the technology company's stock after selling 1,495,788 shares during the quarter. Wasatch Advisors LP owned approximately 3.50% of Q2 worth $212,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC boosted its position in Q2 by 104.0% during the third quarter. Barclays PLC now owns 163,138 shares of the technology company's stock worth $13,012,000 after purchasing an additional 83,181 shares during the period. Geode Capital Management LLC increased its position in shares of Q2 by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company's stock valued at $107,963,000 after buying an additional 19,520 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Q2 by 48.7% during the third quarter. Tidal Investments LLC now owns 10,646 shares of the technology company's stock worth $849,000 after buying an additional 3,486 shares in the last quarter. Franklin Resources Inc. raised its position in Q2 by 17.5% during the third quarter. Franklin Resources Inc. now owns 47,461 shares of the technology company's stock worth $3,888,000 after acquiring an additional 7,053 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Q2 by 38.6% in the 3rd quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company's stock valued at $14,095,000 after acquiring an additional 49,233 shares during the period.

Analyst Ratings Changes

QTWO has been the topic of several recent research reports. The Goldman Sachs Group cut their price objective on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Needham & Company LLC boosted their price objective on Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Stephens reiterated an "overweight" rating and issued a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Compass Point reissued a "neutral" rating and set a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Finally, Baird R W cut shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.33.

Q2 Stock Performance

Shares of Q2 stock traded down $2.67 during trading on Monday, reaching $72.29. The company's stock had a trading volume of 103,811 shares, compared to its average volume of 650,527. 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 Holdings, Inc. has a 52 week low of $50.04 and a 52 week high of $112.82. The firm has a market cap of $4.39 billion, a PE ratio of -111.21 and a beta of 1.61. The business's 50-day moving average price is $80.11 and its 200-day moving average price is $90.38.

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

Insider Buying and Selling

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now directly owns 113,278 shares of the company's stock, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the sale, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock worth $14,853,965 in the last 90 days. 3.00% of the stock is owned by company insiders.

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.