Legal & General Group Plc Sells 8,976 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Legal & General Group Plc lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,220 shares of the technology company's stock after selling 8,976 shares during the period. Legal & General Group Plc owned 0.11% of Q2 worth $6,866,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Q2 during the 4th quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in shares of Q2 in the fourth quarter worth $30,000. TCTC Holdings LLC acquired a new position in Q2 in the fourth quarter valued at about $30,000. Ameliora Wealth Management Ltd. bought a new stake in Q2 during the fourth quarter worth about $32,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Q2 during the fourth quarter worth about $137,000.

Analysts Set New Price Targets

QTWO has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Stephens restated an "overweight" rating and set a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research report on Monday, April 7th. Needham & Company LLC lifted their price target on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their price objective on shares of Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Q2 has a consensus rating of "Moderate Buy" and a consensus price target of $102.33.

Q2 Trading Up 3.6 %

QTWO stock traded up $2.69 during mid-day trading on Wednesday, reaching $77.65. The company's stock had a trading volume of 232,965 shares, compared to its average volume of 650,604. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -119.30 and a beta of 1.61. Q2 Holdings, Inc. has a 12 month low of $50.91 and a 12 month high of $112.82. The business's 50 day moving average price is $79.36 and its 200 day moving average price is $90.22. 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 (NYSE:QTWO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (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 predict that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other Q2 news, CEO Matthew P. Flake sold 36,023 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 485,666 shares in the company, valued at approximately $39,023,263.10. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now owns 113,278 shares of the company's stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,858 shares of company stock valued at $14,853,965. 3.00% of the stock is owned by company insiders.

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.