Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Axiom Investors LLC DE

Axiom Investors LLC DE lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 11.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 235,450 shares of the technology company’s stock after selling 30,140 shares during the period. Axiom Investors LLC DE’s holdings in Q2 were worth $23,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTWO. Highland Capital Management LLC increased its position in shares of Q2 by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after purchasing an additional 172 shares during the period. Arizona State Retirement System grew its holdings in Q2 by 1.1% during the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock worth $1,761,000 after acquiring an additional 190 shares during the period. Moran Wealth Management LLC raised its position in Q2 by 2.7% in the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock worth $817,000 after acquiring an additional 215 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its holdings in Q2 by 5.5% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock valued at $443,000 after acquiring an additional 288 shares during the last quarter. Finally, TCTC Holdings LLC bought a new position in shares of Q2 during the 4th quarter valued at about $30,000.

Insider Activity at Q2

In other news, CEO Matthew P. Flake sold 56,799 shares of Q2 stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the sale, the chief executive officer now directly owns 453,849 shares in the company, valued at approximately $35,527,299.72. The trade was a 11.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,835 shares of company stock worth $11,959,517 over the last three months. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QTWO. Citigroup increased their target price on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price objective on Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Stephens reaffirmed an “overweight” rating and set a $115.00 target price on shares of Q2 in a research report on Thursday, February 13th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 price target (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Finally, Truist Financial reissued a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.47.

Q2 Stock Down 2.4 %

QTWO opened at $80.71 on Monday. The business has a 50 day moving average of $86.84 and a 200-day moving average of $90.79. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -124.16 and a beta of 1.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 1-year low of $46.50 and a 1-year high of $112.82.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, sell-side analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.