Principal Financial Group Inc. Purchases 251,807 Shares of Q2 Holdings, Inc. $QTWO

Principal Financial Group Inc. grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 502.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,917 shares of the technology company’s stock after acquiring an additional 251,807 shares during the period. Principal Financial Group Inc. owned about 0.48% of Q2 worth $21,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Q2 during the 2nd quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Q2 in the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC purchased a new position in shares of Q2 during the third quarter valued at approximately $30,000. First Horizon Corp bought a new position in shares of Q2 during the third quarter valued at approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Q2 by 592.3% in the second 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.

Q2 Trading Up 3.3%

NYSE QTWO opened at $57.01 on Friday. Q2 Holdings, Inc. has a 12 month low of $54.63 and a 12 month high of $102.07. The stock’s fifty day moving average price is $69.41 and its 200-day moving average price is $71.86. The stock has a market cap of $3.56 billion, a P/E ratio of 118.77 and a beta of 1.36.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share (EPS) 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 firm had revenue of $201.70 million during the quarter, compared to the consensus estimate of $197.87 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stephens set a $90.00 price objective on shares of Q2 in a research report on Friday, January 16th. DA Davidson upgraded shares of Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, February 3rd. Needham & Company LLC lowered their price objective on shares of Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Stifel Nicolaus reduced their target price on Q2 from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Finally, Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.27.

Insider Activity at Q2

In other news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $222,808.32. Following the completion of the transaction, the chief operating officer owned 96,046 shares in the company, valued at $7,076,669.28. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $630,627.12. Following the transaction, the insider directly owned 269,128 shares in the company, valued at approximately $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,883 shares of company stock valued at $1,547,778 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.