Wasatch Advisors LP Sells 1,495,788 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Wasatch Advisors LP cut its position in Q2 Holdings, Inc. (NYSE:QTWO) by 41.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,116,062 shares of the technology company’s stock after selling 1,495,788 shares during the period. Wasatch Advisors LP’s holdings in Q2 were worth $212,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after buying an additional 42,433 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Q2 during the fourth quarter worth about $288,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Q2 by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after purchasing an additional 10,636 shares in the last quarter. Dakota Wealth Management grew its position in shares of Q2 by 189.8% in the 4th quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 10,498 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Q2 during the 4th quarter worth approximately $18,271,000.

Q2 Price Performance

Shares of QTWO opened at $76.82 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $81.21 and its 200 day simple moving average is $90.37. Q2 Holdings, Inc. has a 1-year low of $49.56 and a 1-year high of $112.82. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -118.18 and a beta of 1.61.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. On average, research analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on QTWO. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Raymond James upped their target price on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target on the stock in a research note on Wednesday, December 18th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Finally, Needham & Company LLC lifted their target price on Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.33.

Insider Transactions at Q2

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares of the company’s stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is owned by company insiders.

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.