Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,995 shares of the technology company’s stock after selling 1,680 shares during the quarter. Cim Investment Management Inc.’s holdings in Q2 were worth $422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in shares of Q2 by 45.2% during the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Q2 by 14.6% during the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares during the last quarter. PEAK6 Investments LLC grew its position in shares of Q2 by 68.8% in the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock valued at $3,004,000 after purchasing an additional 28,215 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Q2 by 67.4% during the fourth quarter. Principal Financial Group Inc. now owns 39,605 shares of the technology company’s stock worth $1,719,000 after buying an additional 15,942 shares during the period.

Insider Activity at Q2

In related news, insider Kimberly Anne Rutledge sold 1,953 shares of Q2 stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the sale, the insider now owns 115,436 shares in the company, valued at $7,503,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Anne Rutledge sold 1,953 shares of Q2 stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total transaction of $126,945.00. Following the completion of the transaction, the insider now directly owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,916 shares of company stock valued at $3,236,644. Insiders own 3.60% of the company’s stock.

Q2 Stock Performance

NYSE QTWO opened at $79.05 on Friday. The business has a 50 day moving average price of $71.99 and a two-hundred day moving average price of $62.45. Q2 Holdings, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $82.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44.

Q2 (NYSE:QTWO) last released its quarterly earnings results 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%. On average, equities analysts predict that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on QTWO shares. BTIG Research lifted their price target on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Truist Financial restated a “buy” rating and issued a $78.00 target price (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.