Handelsbanken Fonder AB Sells 113,300 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Handelsbanken Fonder AB lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 360,516 shares of the technology company’s stock after selling 113,300 shares during the period. Handelsbanken Fonder AB owned 0.60% of Q2 worth $36,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of QTWO. Quarry LP grew its holdings in Q2 by 988.2% during the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after acquiring an additional 336 shares during the period. Ameliora Wealth Management Ltd. bought a new stake in shares of Q2 during the 4th quarter valued at about $32,000. CWM LLC grew its stake in Q2 by 199.8% during the third quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after purchasing an additional 961 shares during the period. International Assets Investment Management LLC increased its holdings in Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after purchasing an additional 964 shares in the last quarter.

Q2 Price Performance

Shares of NYSE:QTWO opened at $90.74 on Friday. Q2 Holdings, Inc. has a 1-year low of $41.23 and a 1-year high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5.51 billion, a PE ratio of -139.59 and a beta of 1.61. The stock’s fifty day simple moving average is $97.14 and its two-hundred day simple moving average is $88.95.

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 forecast that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $106.12, for a total transaction of $543,652.76. Following the completion of the sale, the executive now owns 218,371 shares in the company, valued at approximately $23,173,530.52. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Kirk L. Coleman sold 8,559 shares of Q2 stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $907,254.00. Following the completion of the sale, the president now directly owns 340,903 shares in the company, valued at approximately $36,135,718. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,288 shares of company stock worth $3,003,523 in the last 90 days. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QTWO. 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 report on Thursday, February 13th. Needham & Company LLC raised their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.13.

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.