Principal Financial Group Inc. Has $2.74 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Principal Financial Group Inc. decreased its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 72.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,203 shares of the technology company’s stock after selling 88,081 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Q2 worth $2,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of QTWO. Proficio Capital Partners LLC acquired a new stake in Q2 in the 4th quarter worth about $29,000. Swiss National Bank raised its position in shares of Q2 by 0.9% in the 4th quarter. Swiss National Bank now owns 118,500 shares of the technology company’s stock valued at $11,927,000 after buying an additional 1,100 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Q2 in the 4th quarter valued at approximately $733,000. Natixis Advisors LLC raised its position in shares of Q2 by 6.3% in the 4th quarter. Natixis Advisors LLC now owns 18,525 shares of the technology company’s stock valued at $1,865,000 after buying an additional 1,090 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Q2 in the 4th quarter valued at approximately $554,000.

Q2 Trading Down 0.5%

QTWO opened at $90.94 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -259.83 and a beta of 1.48. The company’s 50 day moving average price is $90.38 and its two-hundred day moving average price is $86.83.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the sale, the executive directly owned 175,812 shares of the company’s stock, valued at $15,626,170.56. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the sale, the director directly owned 16,241 shares in the company, valued at $1,425,472.57. The trade was a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,991 shares of company stock valued at $357,153 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QTWO. Robert W. Baird boosted their target price on shares of Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Wall Street Zen cut shares of Q2 from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 8th. Raymond James Financial dropped their target price on shares of Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their target price on shares of Q2 from $89.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.41.

Q2 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.