M&T Bank Corp Sells 320 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

M&T Bank Corp lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 10.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,672 shares of the technology company’s stock after selling 320 shares during the quarter. M&T Bank Corp’s holdings in Q2 were worth $214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Q2 during the fourth quarter worth $29,000. Versant Capital Management Inc bought a new stake in shares of Q2 in the first quarter worth $33,000. NewEdge Advisors LLC grew its stake in shares of Q2 by 269.6% in the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock worth $38,000 after purchasing an additional 275 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Q2 in the fourth quarter worth $98,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Q2 in the fourth quarter worth $102,000.

Q2 Price Performance

Shares of NYSE QTWO opened at $90.94 on Friday. The firm’s 50-day moving average price is $90.38 and its 200-day moving average price is $86.83. Q2 Holdings, Inc. has a 1-year low of $61.51 and a 1-year high of $112.82. The firm has a market capitalization of $5.67 billion, a P/E ratio of -259.83 and a beta of 1.48. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

Insider Activity

In other news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the transaction, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael S. Kerr sold 397 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the completion of the sale, the general counsel owned 58,441 shares in the company, valued at $5,429,168.90. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,991 shares of company stock worth $357,153. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on QTWO. Compass Point reissued a “neutral” rating and issued a $60.00 price objective on shares of Q2 in a research note on Monday, April 7th. Royal Bank Of Canada reduced their price objective on shares of Q2 from $108.00 to $101.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. began coverage on shares of Q2 in a research note on Wednesday, June 18th. They issued an “overweight” rating and a $115.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Q2 from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reduced their price objective on shares of Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $100.41.

Q2 Company 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.