Federated Hermes Inc. Trims Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Federated Hermes Inc. lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 708,623 shares of the technology company's stock after selling 51,169 shares during the period. Federated Hermes Inc. owned approximately 1.17% of Q2 worth $71,323,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Q2 in the fourth quarter worth $29,000. Quarry LP boosted its holdings in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock worth $30,000 after buying an additional 336 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Q2 during the fourth quarter valued at about $30,000. TCTC Holdings LLC purchased a new stake in Q2 during the fourth quarter worth about $30,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in Q2 in the fourth quarter valued at about $32,000.

Insider Buying and Selling

In other news, CEO Matthew P. Flake sold 36,023 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the transaction, the chief executive officer now directly owns 485,666 shares of the company's stock, valued at approximately $39,023,263.10. This represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their ownership of the stock. 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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Wall Street Analysts Forecast Growth

A number of research firms recently commented on QTWO. Compass Point reaffirmed a "neutral" rating and issued a $60.00 price target on shares of Q2 in a report on Monday, April 7th. KeyCorp raised Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target on the stock in a research report on Wednesday, December 18th. Needham & Company LLC lifted their price objective on Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $99.00 target price (up previously from $89.00) on shares of Q2 in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.33.

Q2 Price Performance

NYSE QTWO traded up $2.11 on Friday, reaching $74.79. 783,952 shares of the company's stock traded hands, compared to its average volume of 650,594. The stock has a market cap of $4.54 billion, a PE ratio of -115.06 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a 12 month low of $49.56 and a 12 month high of $112.82. The stock has a 50-day simple moving average of $81.95 and a 200 day simple moving average of $90.40.

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%. As a group, research analysts predict that Q2 Holdings, Inc. will post 0.67 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.