Thrivent Financial for Lutherans Cuts Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Thrivent Financial for Lutherans trimmed its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 35.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,507 shares of the technology company’s stock after selling 23,133 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Q2 worth $4,177,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new position in shares of Q2 in the fourth quarter valued at approximately $202,645,000. TCTC Holdings LLC purchased a new position in Q2 in the 4th quarter valued at approximately $30,000. Cibc World Markets Corp acquired a new position in shares of Q2 in the fourth quarter worth $554,000. Twin Tree Management LP purchased a new stake in shares of Q2 during the fourth quarter worth $1,084,000. Finally, Natixis Advisors LLC raised its stake in shares of Q2 by 6.3% in the fourth quarter. Natixis Advisors LLC now owns 18,525 shares of the technology company’s stock valued at $1,865,000 after acquiring an additional 1,090 shares in the last quarter.

Insider Transactions at Q2

In other news, insider Kimberly Anne Rutledge sold 6,656 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the sale, the insider now owns 113,278 shares in the company, valued at approximately $8,396,165.36. This trade represents a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,835 shares of company stock worth $11,959,517. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QTWO has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 target price (up previously from $89.00) on shares of Q2 in a report on Friday, January 10th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Raymond James raised their price objective on shares of Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven equities 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, Q2 currently has a consensus rating of “Moderate Buy” and an average price target of $105.27.

Q2 Trading Up 1.8 %

QTWO opened at $84.32 on Wednesday. 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 52 week low of $46.50 and a 52 week high of $112.82. The business’s 50 day moving average is $87.53 and its two-hundred day moving average is $90.58. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of -129.72 and a beta of 1.62.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. On average, research analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Q2 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.