Q2 Holdings, Inc. (NYSE:QTWO) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 121.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,803 shares of the technology company’s stock after buying an additional 11,973 shares during the period. Teacher Retirement System of Texas’ holdings in Q2 were worth $2,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of QTWO. William Blair Investment Management LLC purchased a new position in Q2 in the 4th quarter worth approximately $202,645,000. Raymond James Financial Inc. purchased a new position in Q2 during the fourth quarter worth approximately $18,271,000. Rockefeller Capital Management L.P. acquired a new position in Q2 during the third quarter worth $9,847,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Q2 in the 4th quarter worth $11,681,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Q2 during the 4th quarter worth $9,367,000.

Insiders Place Their Bets

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the company’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 completion of the transaction, the insider now directly owns 113,278 shares of the company’s stock, valued at approximately $8,396,165.36. This represents a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 15,005 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 value of $1,112,170.60. Following the sale, the executive now directly owns 197,966 shares in the company, valued at $14,673,239.92. This trade represents a 7.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,835 shares of company stock worth $11,959,517 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on QTWO shares. Stifel Nicolaus raised their price objective on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Royal Bank of Canada raised their target price on Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, Raymond James increased their price target on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.27.

Q2 Stock Down 2.3 %

Shares of NYSE QTWO opened at $82.56 on Thursday. The stock has a market cap of $5.01 billion, a P/E ratio of -127.01 and a beta of 1.62. The business’s fifty day simple moving average is $87.32 and its 200-day simple moving average is $90.52. Q2 Holdings, Inc. has a 12-month low of $46.50 and a 12-month high of $112.82. 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) last announced its quarterly earnings data 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%. As a group, equities analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal 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.