State of New Jersey Common Pension Fund D Has $2.05 Million Position in Q2 Holdings, Inc. $QTWO

State of New Jersey Common Pension Fund D lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,931 shares of the technology company’s stock after selling 624 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Q2 were worth $2,053,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QTWO. Invesco Ltd. lifted its stake in Q2 by 2.3% during the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company’s stock worth $214,045,000 after purchasing an additional 60,958 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock worth $137,948,000 after purchasing an additional 378,394 shares during the last quarter. Jennison Associates LLC lifted its stake in Q2 by 3.3% during the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company’s stock worth $104,155,000 after purchasing an additional 41,412 shares during the last quarter. Federated Hermes Inc. lifted its stake in Q2 by 5.4% during the first quarter. Federated Hermes Inc. now owns 746,938 shares of the technology company’s stock worth $59,763,000 after purchasing an additional 38,315 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Q2 during the first quarter worth $51,960,000.

Q2 Stock Down 1.5%

NYSE QTWO opened at $61.07 on Thursday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 1,221.72 and a beta of 1.47. Q2 Holdings, Inc. has a twelve month low of $58.57 and a twelve month high of $112.82. The stock has a fifty day simple moving average of $72.09 and a 200 day simple moving average of $80.85.

Insider Activity at Q2

In related news, Director James Offerdahl sold 786 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael S. Kerr sold 967 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the sale, the general counsel owned 56,228 shares of the company’s stock, valued at $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,499 shares of company stock worth $650,658 over the last three months. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QTWO shares. Cantor Fitzgerald cut their target price on Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research cut Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Needham & Company LLC increased their price target on Q2 from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada increased their price target on Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus dropped their price target on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.44.

About Q2

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.