abrdn plc Has $30.11 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

abrdn plc cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 28.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 298,864 shares of the technology company’s stock after selling 118,358 shares during the quarter. abrdn plc’s holdings in Q2 were worth $30,105,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versor Investments LP acquired a new position in shares of Q2 during the third quarter worth $590,000. Perpetual Ltd bought a new stake in shares of Q2 in the third quarter worth $80,788,000. State Street Corp grew its stake in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after purchasing an additional 42,433 shares during the last quarter.

Q2 Trading Down 1.8 %

QTWO opened at $93.34 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $5.64 billion, a PE ratio of -97.22 and a beta of 1.61. Q2 Holdings, Inc. has a fifty-two week low of $40.60 and a fifty-two week high of $112.82. The company’s 50-day moving average is $100.34 and its 200 day moving average is $87.20.

Insider Buying and Selling at Q2

In other Q2 news, Director James Offerdahl sold 548 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the sale, the director now owns 18,241 shares in the company, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the sale, the president now owns 337,643 shares of the company’s stock, valued at approximately $35,931,968.06. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,836 shares of company stock worth $3,061,035. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price target on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stephens increased their price objective on shares of Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Truist Financial reissued a “buy” rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Finally, Robert W. Baird reissued a “neutral” rating and set a $99.00 price objective (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

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.