First Trust Advisors LP Purchases 133,508 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

First Trust Advisors LP increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO – Get Rating) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 688,215 shares of the technology company’s stock after acquiring an additional 133,508 shares during the period. First Trust Advisors LP’s holdings in Q2 were worth $18,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. grew its position in Q2 by 5.7% during the 1st quarter. Prudential Financial Inc. now owns 5,527 shares of the technology company’s stock worth $340,000 after acquiring an additional 296 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Q2 by 27.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,427 shares of the technology company’s stock worth $38,000 after acquiring an additional 310 shares during the last quarter. ExodusPoint Capital Management LP grew its position in Q2 by 2.3% during the 3rd quarter. ExodusPoint Capital Management LP now owns 21,028 shares of the technology company’s stock worth $677,000 after acquiring an additional 473 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Q2 by 9.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,449 shares of the technology company’s stock valued at $200,000 after buying an additional 621 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Q2 by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,172 shares of the technology company’s stock valued at $435,000 after buying an additional 628 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird lowered Q2 from an “outperform” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Tuesday, January 31st. Raymond James reduced their price target on Q2 from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Needham & Company LLC reduced their price target on Q2 from $38.00 to $32.00 in a research report on Wednesday, May 10th. Piper Sandler reduced their price target 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, Truist Financial reduced their price target on Q2 from $41.00 to $31.00 in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.38.

Insider Buying and Selling

In related news, Director R. H. Seale sold 22,300 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $25.32, for a total transaction of $564,636.00. Following the transaction, the director now directly owns 515,554 shares of the company’s stock, valued at approximately $13,053,827.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director R. H. Seale sold 22,300 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $25.32, for a total value of $564,636.00. Following the completion of the sale, the director now directly owns 515,554 shares of the company’s stock, valued at $13,053,827.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kimberly Rutledge sold 8,711 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $32.06, for a total value of $279,274.66. Following the completion of the sale, the executive vice president now directly owns 99,955 shares of the company’s stock, valued at $3,204,557.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,922 shares of company stock valued at $4,415,636. 3.60% of the stock is owned by company insiders.

Q2 Price Performance

QTWO stock opened at $27.69 on Monday. The stock’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $27.34. Q2 Holdings, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $55.29. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.11.

Q2 (NYSE:QTWO – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). Q2 had a negative return on equity of 10.16% and a negative net margin of 14.70%. The firm had revenue of $146.54 million for the quarter, compared to analyst estimates of $149.17 million. Equities research analysts forecast that Q2 Holdings, Inc. will post -0.69 EPS for the current fiscal year.

Q2 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.