Bank of Montreal Can Sells 4,137,174 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Bank of Montreal Can lessened its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 91.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 366,334 shares of the technology company’s stock after selling 4,137,174 shares during the period. Bank of Montreal Can owned approximately 0.61% of Q2 worth $36,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in shares of Q2 in the fourth quarter valued at approximately $202,645,000. Massachusetts Financial Services Co. MA raised its stake in Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after purchasing an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Q2 by 732.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after purchasing an additional 655,838 shares during the period. Franklin Resources Inc. grew its position in Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock worth $47,459,000 after purchasing an additional 424,062 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Q2 during the 4th quarter worth about $21,643,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QTWO shares. Compass Point restated a “neutral” rating and set a $60.00 price objective on shares of Q2 in a research report on Monday. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Stifel Nicolaus upped their target price on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

Q2 Trading Down 5.2 %

QTWO stock opened at $72.67 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a twelve month low of $49.56 and a twelve month high of $112.82. The company has a market cap of $4.41 billion, a P/E ratio of -111.80 and a beta of 1.61. The business has a fifty day moving average of $82.35 and a 200-day moving average of $90.43.

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 the consensus estimate of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Activity at Q2

In related news, CFO Jonathan Price sold 42,652 shares of Q2 stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now directly owns 453,849 shares in the company, valued at $35,527,299.72. The trade was a 11.12 % 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 ninety days. Company insiders own 3.00% of the company’s stock.

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.