Norges Bank Invests $21.64 Million in Q2 Holdings, Inc. (NYSE:QTWO)

Norges Bank bought a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 215,036 shares of the technology company's stock, valued at approximately $21,643,000. Norges Bank owned 0.36% of Q2 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in QTWO. State Street Corp boosted its holdings 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 valued at $133,118,000 after purchasing an additional 5,000 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Q2 by 61.8% in the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock worth $11,208,000 after buying an additional 42,433 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Q2 during the 4th quarter worth $288,000. Charles Schwab Investment Management Inc. increased its stake in shares of Q2 by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock valued at $51,036,000 after buying an additional 10,636 shares during the period. Finally, Dakota Wealth Management raised its holdings in shares of Q2 by 189.8% in the fourth quarter. Dakota Wealth Management now owns 16,030 shares of the technology company's stock valued at $1,613,000 after acquiring an additional 10,498 shares in the last quarter.

Q2 Stock Performance

NYSE:QTWO traded up $2.11 during midday trading on Friday, hitting $74.79. The company's stock had a trading volume of 783,952 shares, compared to its average volume of 650,594. Q2 Holdings, Inc. has a fifty-two week low of $49.56 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $4.54 billion, a P/E ratio of -115.06 and a beta of 1.61. The firm's 50 day moving average is $81.95 and its 200-day moving average is $90.40.

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Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Equities analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In related news, CEO Matthew P. Flake sold 56,799 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the sale, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares of the company's stock, valued at approximately $8,396,165.36. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,858 shares of company stock worth $14,853,965. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on QTWO. Baird R W downgraded shares of Q2 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Robert W. Baird reissued a "neutral" rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a report on Friday, January 10th. KeyCorp upgraded Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price for the company in a report on Wednesday, December 18th. Needham & Company LLC lifted their price target on Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group decreased their price objective on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.33.

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.