Thrivent Financial for Lutherans Has $4.39 Million Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Thrivent Financial for Lutherans lowered its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,680 shares of the technology company’s stock after selling 3,643 shares during the quarter. Thrivent Financial for Lutherans owned 0.12% of Q2 worth $4,385,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new position in Q2 during the first quarter worth $62,765,000. American Century Companies Inc. boosted its stake in shares of Q2 by 5,990.6% during the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after buying an additional 1,190,274 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares in the last quarter. Norges Bank acquired a new stake in shares of Q2 in the fourth quarter valued at about $20,470,000. Finally, Wasatch Advisors LP raised its holdings in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring an additional 398,871 shares in the last quarter.

Q2 Trading Up 1.9 %

Shares of NYSE:QTWO opened at $79.05 on Friday. Q2 Holdings, Inc. has a 12-month low of $28.91 and a 12-month high of $82.72. The business has a 50 day moving average of $72.24 and a 200-day moving average of $62.66. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. The stock has a market cap of $4.77 billion, a PE ratio of -58.56 and a beta of 1.58.

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

Insider Buying and Selling

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the sale, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction 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 transaction, the director now owns 397,702 shares in the company, valued at approximately $29,927,075.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 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 completion of the transaction, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,916 shares of company stock valued at $3,236,644. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on QTWO shares. Truist Financial restated a “buy” rating and issued a $78.00 price target (up from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Compass Point started coverage on shares of Q2 in a research report on Wednesday, September 4th. They set a “buy” rating and a $91.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.38.

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.