Arizona State Retirement System Sells 169 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Arizona State Retirement System lessened its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,326 shares of the technology company’s stock after selling 169 shares during the quarter. Arizona State Retirement System’s holdings in Q2 were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Q2 during the 4th quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new position in Q2 during the 1st quarter valued at about $33,000. NewEdge Advisors LLC increased its holdings in shares of Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock valued at $38,000 after acquiring an additional 275 shares during the period. Transce3nd LLC purchased a new stake in shares of Q2 during the fourth quarter valued at about $98,000. Finally, Johnson Financial Group Inc. purchased a new position in Q2 in the fourth quarter worth $102,000.

Q2 Stock Performance

QTWO opened at $90.94 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $5.67 billion, a PE ratio of -259.83 and a beta of 1.48. The stock has a 50-day moving average of $90.38 and a 200-day moving average of $86.74. Q2 Holdings, Inc. has a 52-week low of $61.51 and a 52-week high of $112.82.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Robert W. Baird boosted their price target on Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Cantor Fitzgerald began coverage on Q2 in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $110.00 target price for the company. Stifel Nicolaus increased their price target on Q2 from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Raymond James Financial dropped their price objective on Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC lowered their price objective on shares of Q2 from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.