Principal Financial Group Inc. Has $14.10 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Principal Financial Group Inc. increased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 38.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 176,695 shares of the technology company’s stock after purchasing an additional 49,233 shares during the quarter. Principal Financial Group Inc. owned approximately 0.29% of Q2 worth $14,095,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QTWO. CWM LLC boosted its stake in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC boosted its position in shares of Q2 by 7,878.3% in the third 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 period. Asset Management One Co. Ltd. grew its stake in shares of Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after acquiring an additional 964 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Q2 in the second quarter worth $153,000. Finally, SG Americas Securities LLC bought a new position in Q2 during the first quarter worth $173,000.

Insider Activity

In related news, 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 completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction 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 owns 397,702 shares in the company, valued at approximately $29,927,075.50. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,963 shares of company stock valued at $2,321,659. 3.00% of the stock is owned by company insiders.

Q2 Stock Performance

Shares of QTWO stock opened at $97.12 on Friday. Q2 Holdings, Inc. has a 12 month low of $34.59 and a 12 month high of $105.00. The company’s fifty day simple moving average is $83.13 and its 200-day simple moving average is $71.08. The firm has a market cap of $5.87 billion, a PE ratio of -101.17 and a beta of 1.58. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their target price on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. BTIG Research lifted their target price on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five equities 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, the company has an average rating of “Moderate Buy” and an average price target of $91.50.

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.