California Public Employees Retirement System Trims Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

California Public Employees Retirement System decreased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 104,108 shares of the technology company’s stock after selling 1,957 shares during the period. California Public Employees Retirement System’s holdings in Q2 were worth $10,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in QTWO. Proficio Capital Partners LLC purchased a new position in Q2 in the fourth quarter worth approximately $29,000. Quarry LP lifted its stake in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after purchasing an additional 336 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Q2 during the 4th quarter worth $30,000. TCTC Holdings LLC acquired a new stake in shares of Q2 during the 4th quarter worth about $30,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in Q2 in the 4th quarter valued at about $32,000.

Insider Buying and Selling

In related news, CEO Matthew P. Flake sold 36,023 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the sale, the chief executive officer now owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the transaction, the insider now directly owns 113,278 shares of the company’s stock, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,858 shares of company stock worth $14,853,965. Corporate insiders own 3.00% of the company’s stock.

Q2 Stock Performance

Shares of QTWO opened at $70.42 on Monday. The stock has a 50-day simple moving average of $85.20 and a 200-day simple moving average of $90.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a 1 year low of $49.56 and a 1 year high of $112.82. The stock has a market capitalization of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

QTWO has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Truist Financial reissued a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Stifel Nicolaus raised their price target on Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their price objective on Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup increased their target price on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.47.

Q2 Company 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.