Clearbridge Investments LLC Cuts Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Clearbridge Investments LLC decreased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 39.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,469 shares of the technology company’s stock after selling 87,459 shares during the period. Clearbridge Investments LLC owned 0.22% of Q2 worth $13,534,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of QTWO. State Street Corp increased 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 worth $133,118,000 after buying an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Q2 by 32.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares during the period. Nordea Investment Management AB lifted its stake in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after purchasing an additional 42,433 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Q2 during the fourth quarter valued at $288,000. Finally, Charles Schwab Investment Management Inc. increased its position in Q2 by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock worth $51,036,000 after buying an additional 10,636 shares during the last quarter.

Insider Activity at Q2

In other news, CFO Jonathan Price sold 42,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total value of $3,172,029.24. Following the sale, the chief financial officer now directly owns 209,378 shares of the company’s stock, valued at $15,571,441.86. The trade was a 16.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock worth $14,853,965 over the last 90 days. 3.00% of the stock is owned by company insiders.

Q2 Price Performance

QTWO stock opened at $82.25 on Thursday. Q2 Holdings, Inc. has a one year low of $49.56 and a one year high of $112.82. 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 market cap of $4.99 billion, a PE ratio of -126.54 and a beta of 1.62. The firm has a 50 day simple moving average of $86.05 and a two-hundred day simple moving average of $90.84.

Q2 (NYSE:QTWO) last announced its quarterly earnings data 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 positive return on equity of 0.85% and a negative net margin of 5.53%. On average, analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QTWO. Stephens reissued an “overweight” rating and issued a $115.00 price objective on shares of Q2 in a report on Thursday, February 13th. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target on the stock in a research report on Wednesday, December 18th. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Truist Financial reissued a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Finally, Citigroup raised their price target on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.47.

Q2 Company 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.