First Trust Advisors LP Reduces Stock Holdings in Q2 Holdings, Inc. $QTWO

First Trust Advisors LP cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 15.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,555 shares of the technology company’s stock after selling 58,945 shares during the quarter. First Trust Advisors LP owned about 0.51% of Q2 worth $29,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of QTWO. WPG Advisers LLC purchased a new position in shares of Q2 during the first quarter valued at about $35,000. SVB Wealth LLC bought a new stake in Q2 during the 1st quarter valued at approximately $58,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after acquiring an additional 539 shares during the period. Summit Securities Group LLC purchased a new position in shares of Q2 during the 1st quarter worth approximately $64,000. Finally, Advisors Asset Management Inc. raised its position in shares of Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after acquiring an additional 220 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QTWO. Needham & Company LLC reduced their price target on Q2 from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus dropped their target price on shares of Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Cantor Fitzgerald decreased their price target on shares of Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Q2 from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.40.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 967 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was 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 directly owned 56,228 shares of the company’s stock, valued at $4,644,432.80. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Q2 Stock Up 0.7%

Q2 stock opened at $74.40 on Thursday. Q2 Holdings, Inc. has a 52-week low of $58.57 and a 52-week high of $108.51. The firm’s fifty day moving average is $67.17 and its 200 day moving average is $78.25. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 155.00 and a beta of 1.37.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). Q2 had a return on equity of 10.92% and a net margin of 4.12%.The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $197.87 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

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.