New York State Common Retirement Fund Decreases Stake in Q2 Holdings, Inc. (NYSE:QTWO)

New York State Common Retirement Fund lowered its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 25.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,329 shares of the technology company's stock after selling 158,409 shares during the period. New York State Common Retirement Fund owned approximately 0.78% of Q2 worth $47,137,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its position in shares of Q2 by 1.5% in the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company's stock worth $184,125,000 after buying an additional 34,300 shares during the period. State Street Corp increased its stake in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock worth $133,118,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC increased its stake in Q2 by 1.5% during 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 during the period. Emerald Advisers LLC increased its stake in Q2 by 2.6% during the third quarter. Emerald Advisers LLC now owns 620,877 shares of the technology company's stock valued at $49,527,000 after acquiring an additional 15,581 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company's stock valued at $48,558,000 after purchasing an additional 354,524 shares during the period.

Q2 Price Performance

Shares of NYSE:QTWO traded down $2.87 during midday trading on Friday, reaching $87.83. 465,509 shares of the company were exchanged, compared to its average volume of 672,229. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The business's fifty day moving average is $97.14 and its two-hundred day moving average is $88.95. Q2 Holdings, Inc. has a one year low of $43.55 and a one year high of $112.82. The stock has a market cap of $5.33 billion, a PE ratio of -135.07 and a beta of 1.61.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly 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%. As a group, analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QTWO. DA Davidson boosted their target price on Q2 from $76.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Royal Bank of Canada upped their price objective on shares of Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Stephens restated an "overweight" rating and issued a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. Baird R W downgraded shares of Q2 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Finally, KeyCorp upgraded Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $102.13.

Insider Activity

In other news, President Kirk L. Coleman sold 10,428 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares of the company's stock, valued at $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Michael A. Volanoski sold 4,178 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $442,868.00. Following the sale, the executive now directly owns 223,494 shares of the company's stock, valued at $23,690,364. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,288 shares of company stock valued at $3,003,523 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Q2 Company 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.