Clearbridge Investments LLC Cuts Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Clearbridge Investments LLC trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,469 shares of the technology company's stock after selling 87,459 shares during the quarter. Clearbridge Investments LLC owned approximately 0.22% of Q2 worth $13,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of QTWO. Arrowstreet Capital Limited Partnership increased its holdings in Q2 by 732.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after acquiring an additional 655,838 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Q2 by 25.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,820 shares of the technology company's stock worth $888,000 after purchasing an additional 1,789 shares in the last quarter. Norges Bank bought a new stake in shares of Q2 in the fourth quarter valued at approximately $21,643,000. Congress Wealth Management LLC DE purchased a new stake in shares of Q2 during the 4th quarter valued at approximately $220,000. Finally, LPL Financial LLC boosted its holdings in Q2 by 35.3% in the 4th quarter. LPL Financial LLC now owns 25,569 shares of the technology company's stock worth $2,574,000 after buying an additional 6,666 shares during the period.

Insider Buying and Selling

In related news, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew P. Flake sold 36,023 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the completion of the sale, the chief executive officer now owns 485,666 shares of the company's stock, valued at approximately $39,023,263.10. This trade represents a 6.91 % 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 in the last ninety days. 3.00% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on QTWO shares. KeyCorp upgraded Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price on the stock in a research report on Wednesday, December 18th. Stifel Nicolaus increased their price objective on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Citigroup lifted their target price on Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Baird R W downgraded shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.47.

Q2 Price Performance

Shares of QTWO stock traded down $5.17 during trading hours on Friday, hitting $70.42. 1,146,902 shares of the company's stock were exchanged, compared to its average volume of 644,243. The company has a market capitalization of $4.28 billion, a PE ratio of -108.33 and a beta of 1.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 12-month low of $49.56 and a 12-month high of $112.82. The business's 50 day simple moving average is $85.67 and its 200-day simple moving average is $90.73.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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 anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Q2 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.