State of Wyoming Reduces Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

State of Wyoming lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 52.6% during the 4th quarter, Holdings Channel reports. The firm owned 3,954 shares of the technology company’s stock after selling 4,385 shares during the quarter. State of Wyoming’s holdings in Q2 were worth $398,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Highland Capital Management LLC grew its stake in Q2 by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after purchasing an additional 172 shares during the last quarter. Arizona State Retirement System grew its stake in Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after purchasing an additional 190 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Q2 by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company’s stock valued at $620,000 after purchasing an additional 195 shares during the last quarter. Moran Wealth Management LLC grew its stake in Q2 by 2.7% during the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after purchasing an additional 215 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock valued at $38,000 after purchasing an additional 275 shares during the last quarter.

Insider Buying and Selling

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares of the company’s stock, valued at $8,396,165.36. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 397 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total value of $36,881.30. Following the transaction, the general counsel now directly owns 58,441 shares of the company’s stock, valued at $5,429,168.90. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,255 shares of company stock valued at $14,890,846. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on QTWO. Compass Point reiterated a “neutral” rating and set a $60.00 price target on shares of Q2 in a research note on Monday, April 7th. Citigroup boosted their price objective on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC decreased their price objective on Q2 from $125.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Stifel Nicolaus boosted their price objective on Q2 from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Morgan Stanley boosted their price objective on Q2 from $89.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.80.

Q2 Stock Performance

NYSE QTWO opened at $89.91 on Wednesday. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of -138.32 and a beta of 1.47. Q2 Holdings, Inc. has a twelve month low of $55.97 and a twelve month 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 50-day moving average of $79.49 and a 200 day moving average of $90.51.

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.