Alliancebernstein L.P. Sells 3,557 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Alliancebernstein L.P. trimmed its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,302 shares of the technology company's stock after selling 3,557 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Q2 worth $7,177,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in shares of Q2 during the fourth quarter valued at about $202,645,000. State Street Corp lifted its stake in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock worth $133,118,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 19,520 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Q2 by 732.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after purchasing an additional 655,838 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Q2 by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock valued at $51,036,000 after purchasing an additional 10,636 shares in the last quarter.

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Q2 Stock Up 1.8 %

QTWO stock traded up $1.38 during trading hours on Tuesday, hitting $76.82. The company's stock had a trading volume of 497,880 shares, compared to its average volume of 650,277. The stock has a 50 day moving average price of $81.60 and a two-hundred day moving average price of $90.47. Q2 Holdings, Inc. has a 12 month low of $49.56 and a 12 month high of $112.82. The company has a market capitalization of $4.66 billion, a PE ratio of -118.18 and a beta of 1.61. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Q2 (NYSE:QTWO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

QTWO has been the subject of several research reports. KeyCorp raised Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price for the company in a research note on Wednesday, December 18th. Raymond James increased their target price on shares of Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price objective on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Stifel Nicolaus boosted their target price on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Truist Financial reiterated a "buy" rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $102.33.

Insider Buying and Selling at Q2

In other news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the sale, the director now directly owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares of the company's stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock worth $14,853,965 over the last 90 days. Insiders own 3.00% of the company's stock.

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.