Massachusetts Financial Services Co. MA Reduces Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO) by 21.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 804,878 shares of the technology company’s stock after selling 222,729 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Q2 were worth $48,558,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in shares of Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after buying an additional 169 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Q2 during the 1st quarter valued at about $50,000. Quest Partners LLC purchased a new position in shares of Q2 during the 2nd quarter valued at about $153,000. SG Americas Securities LLC purchased a new position in shares of Q2 during the 1st quarter valued at about $173,000. Finally, nVerses Capital LLC purchased a new position in shares of Q2 during the 2nd quarter valued at about $181,000.

Q2 Stock Up 4.9 %

Shares of QTWO opened at $79.76 on Friday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -59.08 and a beta of 1.58. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $79.93. The business’s 50 day simple moving average is $70.85 and its 200-day simple moving average is $61.34. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $172.89 million for the quarter, compared to analysts’ expectations of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. As a group, equities analysts expect that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Q2

In related news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,916 shares of company stock worth $3,896,644. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

QTWO has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up from $68.00) on shares of Q2 in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. DA Davidson cut Q2 from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $65.00 to $76.00 in a report on Wednesday, July 24th. Needham & Company LLC boosted their price target on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BTIG Research boosted their price target on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Q2 has an average rating of “Moderate Buy” and an average target price of $72.38.

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.