Essex Investment Management Co. LLC Sells 924 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Essex Investment Management Co. LLC reduced its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 38.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,455 shares of the technology company’s stock after selling 924 shares during the period. Essex Investment Management Co. LLC’s holdings in Q2 were worth $146,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Versor Investments LP acquired a new stake in Q2 in the 3rd quarter worth approximately $590,000. State Street Corp boosted its holdings in Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after acquiring an additional 5,000 shares during the period. BNP Paribas Financial Markets grew its position 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 valued at $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Nordea Investment Management AB increased 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 period. Finally, Intech Investment Management LLC bought a new position in shares of Q2 in the third quarter worth about $1,227,000.

Q2 Stock Performance

Q2 stock opened at $75.76 on Monday. The firm has a market capitalization of $4.60 billion, a P/E ratio of -116.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a fifty day moving average price of $92.51 and a two-hundred day moving average price of $90.27. Q2 Holdings, Inc. has a 52-week low of $46.50 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 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, analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QTWO. Stephens reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Raymond James raised their price objective 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. Royal Bank of Canada upped their target price on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.27.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 4,178 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $442,868.00. Following the completion of the sale, the executive now directly owns 223,494 shares of the company’s stock, valued at $23,690,364. This represents a 1.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 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 transaction, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,288 shares of company stock worth $3,091,483. Corporate insiders own 3.00% of the company’s stock.

About Q2

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.