Allspring Global Investments Holdings LLC Sells 45,899 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Allspring Global Investments Holdings LLC cut its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,362 shares of the technology company's stock after selling 45,899 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of Q2 worth $16,063,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Q2 by 45.2% in the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company's stock valued at $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Jennison Associates LLC boosted its position in Q2 by 14.6% during the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company's stock worth $97,363,000 after acquiring an additional 235,582 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company's stock worth $2,908,000 after acquiring an additional 22,400 shares during the last quarter. Perpetual Ltd acquired a new stake in Q2 during the third quarter worth approximately $80,788,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Q2 during the first quarter worth approximately $1,055,000.

Q2 Stock Performance

Shares of Q2 stock traded down $0.17 on Friday, reaching $83.40. The stock had a trading volume of 500,499 shares, compared to its average volume of 583,428. The business's 50-day moving average price is $77.30 and its two-hundred day moving average price is $66.82. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. Q2 Holdings, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $84.82. The stock has a market cap of $5.03 billion, a P/E ratio of -71.90 and a beta of 1.59.

Q2 (NYSE:QTWO - Get Free Report) last released its earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $172.89 million for the quarter, compared to analyst estimates of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. On average, sell-side analysts forecast that Q2 Holdings, Inc. will post -0.01 EPS for the current year.

Insider Activity at Q2

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the transaction, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the transaction, the director now owns 397,702 shares of the company's stock, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock worth $3,109,699 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Truist Financial restated a "buy" rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Citigroup lowered shares of Q2 from a "buy" rating to a "neutral" rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Compass Point assumed coverage on shares of Q2 in a research note on Wednesday, September 4th. They set a "buy" rating and a $91.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, BTIG Research increased their price target on shares of Q2 from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Q2 presently has a consensus rating of "Moderate Buy" and an average price target of $73.64.

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.