Zurcher Kantonalbank Zurich Cantonalbank Sells 320,000 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO – Get Rating) by 97.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,316 shares of the technology company’s stock after selling 320,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Q2 were worth $197,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QTWO. Conestoga Capital Advisors LLC boosted its holdings in shares of Q2 by 7.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,183,542 shares of the technology company’s stock valued at $58,672,000 after buying an additional 160,083 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Q2 by 17.9% in the 4th quarter. Venturi Wealth Management LLC now owns 303,697 shares of the technology company’s stock valued at $8,160,000 after buying an additional 46,175 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Q2 by 1,737.9% in the 4th quarter. Signaturefd LLC now owns 3,106 shares of the technology company’s stock valued at $83,000 after buying an additional 2,937 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Q2 by 19.2% in the 4th quarter. Natixis Advisors L.P. now owns 13,063 shares of the technology company’s stock valued at $351,000 after buying an additional 2,102 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Q2 by 6.2% in the 4th quarter. Comerica Bank now owns 180,945 shares of the technology company’s stock valued at $5,754,000 after buying an additional 10,562 shares during the last quarter.

Insider Buying and Selling at Q2

In other Q2 news, EVP Kimberly Rutledge sold 8,711 shares of Q2 stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $32.06, for a total value of $279,274.66. Following the transaction, the executive vice president now owns 99,955 shares in the company, valued at $3,204,557.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director R. H. Seale sold 22,300 shares of Q2 stock in a transaction dated Friday, April 14th. The stock was sold at an average price of $23.52, for a total transaction of $524,496.00. Following the sale, the director now directly owns 537,854 shares of the company’s stock, valued at $12,650,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kimberly Rutledge sold 8,711 shares of Q2 stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $32.06, for a total value of $279,274.66. Following the sale, the executive vice president now directly owns 99,955 shares in the company, valued at $3,204,557.30. The disclosure for this sale can be found here. Insiders have sold a total of 132,271 shares of company stock worth $3,842,130 over the last 90 days. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

QTWO has been the subject of several research reports. Raymond James cut their price target on Q2 from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. DA Davidson cut their price target on Q2 from $38.00 to $30.00 in a report on Thursday, April 27th. Robert W. Baird downgraded Q2 from an “outperform” rating to a “neutral” rating and set a $32.00 price target for the company. in a report on Tuesday, January 31st. Piper Sandler lowered their price objective on Q2 from $26.00 to $20.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 14th. Finally, Needham & Company LLC increased their price objective on Q2 from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.50.

Q2 Stock Performance

Q2 stock opened at $22.35 on Friday. Q2 Holdings, Inc. has a 12-month low of $18.91 and a 12-month high of $55.29. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.57. The business’s 50-day moving average price is $24.96 and its two-hundred day moving average price is $27.66. The stock has a market cap of $1.30 billion, a PE ratio of -11.83 and a beta of 1.45.

Q2 (NYSE:QTWO – Get Rating) last released its earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). Q2 had a negative net margin of 19.27% and a negative return on equity of 11.58%. The business had revenue of $146.54 million during the quarter, compared to the consensus estimate of $149.17 million. As a group, analysts expect that Q2 Holdings, Inc. will post -0.72 earnings per share for the current fiscal year.

Q2 Company Profile

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Q2 Holdings, Inc engages in the provision of digital banking and lending solutions. It offers its solutions to financial institutions, financial technology companies, alternative finance companies, and other innovative companies, wishing to incorporate banking into their customer engagement and servicing strategies.