Q2 Holdings, Inc. $QTWO Stock: State of Alaska Department of Revenue Lowers Stake

State of Alaska Department of Revenue lowered its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 35.9% during the third quarter, HoldingsChannel reports. The firm owned 13,215 shares of the technology company’s stock after selling 7,401 shares during the quarter. State of Alaska Department of Revenue’s holdings in Q2 were worth $731,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QTWO. Assenagon Asset Management S.A. lifted its holdings in shares of Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after purchasing an additional 657,707 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Q2 by 34.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company’s stock worth $47,760,000 after purchasing an additional 259,912 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Q2 by 7.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 698,693 shares of the technology company’s stock worth $33,048,000 after purchasing an additional 50,473 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Q2 by 139.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after purchasing an additional 300,375 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Q2 by 73.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 488,080 shares of the technology company’s stock worth $23,086,000 after purchasing an additional 205,970 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on QTWO shares. JPMorgan Chase & Co. raised their target price on shares of Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Stifel Nicolaus upped their price target on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of Q2 in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.83.

Q2 Stock Up 4.2%

QTWO stock opened at $69.20 on Friday. The business has a 50 day moving average price of $60.92 and a two-hundred day moving average price of $54.26. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 49.43 and a beta of 1.34. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $76.24.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities research analysts anticipate that Q2 Holdings, Inc. will post 1.80 EPS for the current fiscal year.

Insider Buying and Selling at Q2

In other Q2 news, insider Kimberly Rutledge sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, the insider directly owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of Q2 stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares of the company’s stock, valued at approximately $13,643,564.43. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 87,816 shares of company stock worth $5,740,968 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Q2 Profile

Q2 Holdings, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help these organizations deliver digital banking experiences, manage customer relationships and expand access to financial services through online and mobile channels.

The company’s products and services include digital banking, account opening, lending and loan origination, payments, data and analytics, financial crime prevention, and tools for managing customer engagement.