Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 8,002 shares of the technology company’s stock after selling 150 shares during the quarter. PFG Investments LLC’s holdings in Q2 were worth $805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC boosted its position in shares of Q2 by 1.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after purchasing an additional 34,300 shares during the period. State Street Corp boosted its position in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Q2 by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after purchasing an additional 19,520 shares during the period. Perpetual Ltd acquired a new stake in shares of Q2 in the 3rd quarter valued at about $80,788,000. Finally, Emerald Advisers LLC boosted its position in shares of Q2 by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 620,877 shares of the technology company’s stock valued at $49,527,000 after purchasing an additional 15,581 shares during the period.

Insider Transactions at Q2

In other news, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now owns 18,241 shares in the company, valued at $1,914,392.95. This trade represents a 2.92 % 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, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total value of $1,109,747.76. Following the sale, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,836 shares of company stock worth $3,061,035 over the last quarter. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on QTWO shares. Piper Sandler upped their target price on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. DA Davidson upped their price objective on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective for the company in a research note on Wednesday, December 18th. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and increased their target price for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. Finally, Needham & Company LLC increased their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Q2 Price Performance

QTWO stock opened at $97.34 on Wednesday. Q2 Holdings, Inc. has a 52-week low of $40.60 and a 52-week high of $112.82. The stock’s fifty day simple moving average is $101.52 and its 200-day simple moving average is $86.17. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -101.39 and a beta of 1.61.

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.