Q2 Holdings, Inc. (NYSE:QTWO) Holdings Reduced by Adams Street Partners LLC

Adams Street Partners LLC trimmed its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 580,209 shares of the technology company’s stock after selling 197,353 shares during the period. Q2 makes up about 14.4% of Adams Street Partners LLC’s investment portfolio, making the stock its 4th largest holding. Adams Street Partners LLC owned 0.96% of Q2 worth $35,004,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after purchasing an additional 398,871 shares during the last quarter. Brown Capital Management LLC lifted its holdings in shares of Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after buying an additional 11,000 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Q2 by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company’s stock valued at $137,184,000 after buying an additional 54,970 shares during the period. Jennison Associates LLC lifted its holdings 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 valued at $97,363,000 after buying an additional 235,582 shares during the period. Finally, Hood River Capital Management LLC lifted its holdings in shares of Q2 by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after buying an additional 67,757 shares during the period.

Wall Street Analyst Weigh In

QTWO has been the topic of several research analyst reports. DA Davidson cut Q2 from a “buy” rating to a “neutral” rating and increased their price target for the company from $65.00 to $76.00 in a report on Wednesday, July 24th. The Goldman Sachs Group raised their target price on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their target price on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Compass Point started coverage on Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price on the stock. Finally, Truist Financial reaffirmed 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.38.

Insider Buying and Selling at Q2

In other news, insider Kimberly Anne Rutledge sold 1,953 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $126,945.00. Following the transaction, the insider now directly owns 115,436 shares in the company, valued at $7,503,340. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Q2 news, insider Kimberly Anne Rutledge sold 1,953 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the sale, the insider now owns 115,436 shares of the company’s stock, valued at $7,503,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now directly owns 397,702 shares in the company, valued at approximately $29,927,075.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,916 shares of company stock worth $3,896,644. 3.60% of the stock is owned by company insiders.

Q2 Stock Up 2.3 %

Shares of NYSE QTWO opened at $81.55 on Monday. The company has a 50 day simple moving average of $71.17 and a 200-day simple moving average of $61.80. The company has a market capitalization of $4.90 billion, a P/E ratio of -60.41 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. Q2 Holdings, Inc. has a 1 year low of $28.91 and a 1 year high of $82.72.

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

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.