Teachers Retirement System of The State of Kentucky Makes New Investment in Q2 Holdings, Inc. $QTWO

Teachers Retirement System of The State of Kentucky bought a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,000 shares of the technology company’s stock, valued at approximately $1,159,000.

Several other hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. raised its position in Q2 by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after acquiring an additional 220 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Q2 by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after purchasing an additional 1,525 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Q2 by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after purchasing an additional 95,440 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Q2 by 3.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock worth $14,907,000 after purchasing an additional 6,909 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Q2 by 17.8% in the 2nd quarter. Bank of Montreal Can now owns 353,984 shares of the technology company’s stock valued at $33,129,000 after purchasing an additional 53,383 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Jonathan Price sold 32,156 shares of Q2 stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total transaction of $1,599,761.00. Following the completion of the transaction, the chief financial officer directly owned 197,135 shares in the company, valued at $9,807,466.25. The trade was a 14.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Breeden sold 33,445 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total value of $1,663,888.75. Following the completion of the sale, the insider directly owned 159,019 shares in the company, valued at approximately $7,911,195.25. The trade was a 17.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 294,381 shares of company stock valued at $15,152,614. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QTWO shares. Cantor Fitzgerald reduced their price objective on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Needham & Company LLC dropped their target price on shares of Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada reduced their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research report on Thursday, February 12th. UBS Group set a $67.00 price target on Q2 in a research note on Thursday, February 12th. Finally, Truist Financial lowered their price target on Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.29.

Q2 Trading Up 1.5%

Shares of NYSE QTWO opened at $52.86 on Friday. The company’s 50-day moving average price is $60.49 and its 200 day moving average price is $67.91. Q2 Holdings, Inc. has a 52 week low of $46.16 and a 52 week high of $96.68. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 66.91 and a beta of 1.40.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.