Principal Financial Group Inc. Increases Position in Q2 Holdings, Inc. (NYSE:QTWO)

Principal Financial Group Inc. increased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 38.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,695 shares of the technology company’s stock after buying an additional 49,233 shares during the period. Principal Financial Group Inc. owned about 0.29% of Q2 worth $14,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC boosted its stake in shares of Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after acquiring an additional 34,300 shares in the last quarter. State Street Corp grew its holdings in Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Q2 by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after buying an additional 19,520 shares in the last quarter. Hood River Capital Management LLC raised its stake 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 worth $76,132,000 after buying an additional 67,757 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Q2 by 5,990.6% in 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 in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on QTWO shares. Morgan Stanley lifted their target price on shares of Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Piper Sandler increased their target price on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and an average target price of $95.80.

Q2 Stock Performance

Shares of NYSE:QTWO opened at $103.36 on Friday. The company has a market cap of $6.24 billion, a P/E ratio of -107.67 and a beta of 1.60. Q2 Holdings, Inc. has a one year low of $39.66 and a one year high of $112.82. The business’s 50-day simple moving average is $99.27 and its 200 day simple moving average is $80.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

Insider Activity

In other news, Director James Offerdahl sold 548 shares of Q2 stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 4,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total value of $442,868.00. Following the sale, the executive now owns 223,494 shares of the company’s stock, valued at approximately $23,690,364. This trade represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,836 shares of company stock worth $3,061,035. 3.00% of the stock is currently owned by company insiders.

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.