First Trust Advisors LP Sells 434 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

First Trust Advisors LP trimmed its holdings in Q2 Holdings, Inc. (NYSE:QTWOFree Report) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 630,060 shares of the technology company’s stock after selling 434 shares during the quarter. First Trust Advisors LP owned 1.07% of Q2 worth $27,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Q2 by 13.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock worth $95,650,000 after buying an additional 256,802 shares in the last quarter. North Reef Capital Management LP increased its stake in Q2 by 21.2% during the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares during the period. Jennison Associates LLC increased its position in shares of Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after purchasing an additional 391,539 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Q2 by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 867,048 shares of the technology company’s stock worth $37,640,000 after buying an additional 140,251 shares in the last quarter.

Q2 Price Performance

NYSE QTWO opened at $61.03 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -45.21 and a beta of 1.53. The business has a 50 day simple moving average of $57.40 and a 200 day simple moving average of $48.56. Q2 Holdings, Inc. has a 52-week low of $27.17 and a 52-week high of $64.17.

Q2 (NYSE:QTWOGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $165.51 million during the quarter, compared to the consensus estimate of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QTWO has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Q2 from $46.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. BTIG Research raised their price target on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird boosted their target price on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Stifel Nicolaus raised their price target on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $50.00 price objective (up from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.33.

Read Our Latest Analysis on Q2

Insider Buying and Selling at Q2

In other news, Director R. H. Seale sold 9,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $48.49, for a total transaction of $436,410.00. Following the completion of the transaction, the director now directly owns 372,754 shares of the company’s stock, valued at $18,074,841.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO David J. Mehok sold 2,453 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $122,895.30. Following the completion of the transaction, the chief financial officer now directly owns 151,846 shares in the company, valued at approximately $7,607,484.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $48.49, for a total value of $436,410.00. Following the completion of the sale, the director now directly owns 372,754 shares in the company, valued at approximately $18,074,841.46. The disclosure for this sale can be found here. Insiders have sold 96,280 shares of company stock valued at $5,558,249 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

About Q2

(Free Report)

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.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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