Pembroke Management LTD Sells 14,975 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Pembroke Management LTD decreased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,663 shares of the technology company’s stock after selling 14,975 shares during the period. Q2 accounts for approximately 2.6% of Pembroke Management LTD’s holdings, making the stock its 14th largest position. Pembroke Management LTD owned approximately 0.33% of Q2 worth $20,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of QTWO. Conestoga Capital Advisors LLC increased its position in Q2 by 1.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after buying an additional 34,300 shares during the last quarter. State Street Corp increased its holdings in shares of Q2 by 0.3% during 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 period. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 19,520 shares in the last quarter. Emerald Advisers LLC raised its stake in Q2 by 2.6% in the third 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 in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock valued at $48,558,000 after buying an additional 354,524 shares in the last quarter.

Insider Activity at Q2

In related news, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $106.12, for a total transaction of $543,652.76. Following the sale, the executive now owns 218,371 shares of the company’s stock, valued at $23,173,530.52. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $907,254.00. Following the transaction, the president now owns 340,903 shares of the company’s stock, valued at approximately $36,135,718. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock worth $3,061,035 in the last quarter. 3.00% of the stock is owned by company insiders.

Q2 Stock Performance

Shares of QTWO stock opened at $91.26 on Tuesday. The company’s fifty day simple moving average is $97.97 and its two-hundred day simple moving average is $88.73. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a 52 week low of $41.23 and a 52 week high of $112.82.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 8.40% and a negative return on equity of 2.30%. As a group, research analysts predict that Q2 Holdings, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

QTWO has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group upped their target price on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler boosted their price target on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson lifted their price target on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Citigroup increased their target price on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.13.

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.