State of New Jersey Common Pension Fund D Lowers Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

State of New Jersey Common Pension Fund D lowered its position in Q2 Holdings, Inc. (NYSE:QTWO) by 10.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,508 shares of the technology company’s stock after selling 3,245 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Q2 were worth $2,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of QTWO. CWM LLC raised its position in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after buying an additional 169 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after acquiring an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after acquiring an additional 964 shares during the last quarter. Quest Partners LLC purchased a new stake in Q2 in the 2nd quarter worth $153,000. Finally, Highland Capital Management LLC bought a new position in shares of Q2 during the 3rd quarter valued at about $208,000.

Q2 Stock Performance

NYSE QTWO opened at $97.83 on Friday. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -102.63 and a beta of 1.58. The stock has a 50-day moving average of $82.11 and a 200 day moving average of $70.58. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a twelve month low of $34.59 and a twelve month high of $105.00.

Insider Transactions at Q2

In related news, Director James Offerdahl sold 1,013 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. This trade represents a 5.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the sale, the general counsel now owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,963 shares of company stock valued at $2,321,659 in the last three months. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QTWO. BTIG Research lifted their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Compass Point boosted their price target on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Finally, Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.