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

Thrivent Financial for Lutherans lessened its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,640 shares of the technology company’s stock after selling 8,040 shares during the quarter. Thrivent Financial for Lutherans owned 0.11% of Q2 worth $5,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QTWO. Natixis purchased a new position in Q2 in the first quarter worth about $336,000. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $37,832,000 after acquiring an additional 683,957 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Q2 by 13.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 25,329 shares of the technology company’s stock valued at $1,331,000 after acquiring an additional 3,080 shares in the last quarter. Comerica Bank boosted its stake in Q2 by 4.4% during the 1st quarter. Comerica Bank now owns 172,251 shares of the technology company’s stock valued at $9,054,000 after purchasing an additional 7,299 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Q2 by 67.4% in the 1st 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 in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on QTWO shares. Needham & Company LLC increased their price objective on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research upped their target price on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Piper Sandler lifted their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.50.

Insiders Place Their Bets

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the business’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 value of $2,107,376.25. Following the transaction, the director now directly owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. The trade was a 6.58 % decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This trade represents a 0.62 % 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 worth $2,321,659 over the last three months. 3.00% of the stock is currently owned by company insiders.

Q2 Trading Up 1.4 %

Q2 stock opened at $106.37 on Friday. Q2 Holdings, Inc. has a 12-month low of $34.59 and a 12-month high of $106.53. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of -110.86 and a beta of 1.58. The firm has a 50 day moving average of $86.05 and a 200 day moving average of $72.63. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.

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.