abrdn plc Cuts Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

abrdn plc cut its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,222 shares of the technology company's stock after selling 42,422 shares during the quarter. abrdn plc owned approximately 0.69% of Q2 worth $33,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QTWO. Brown Capital Management LLC grew its position in Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company's stock valued at $134,850,000 after purchasing an additional 11,000 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Q2 by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company's stock valued at $137,184,000 after purchasing an additional 54,970 shares during the last quarter. Jennison Associates LLC grew its position in Q2 by 14.6% during the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company's stock valued at $97,363,000 after purchasing an additional 235,582 shares during the last quarter. Hood River Capital Management LLC grew its position in Q2 by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company's stock valued at $76,132,000 after purchasing an additional 67,757 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Q2 by 5,990.6% during the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company's stock valued at $73,008,000 after purchasing an additional 1,190,274 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on QTWO shares. DA Davidson reissued a "neutral" rating and set a $76.00 price objective on shares of Q2 in a research report on Monday, September 30th. The Goldman Sachs Group raised their price target on shares of Q2 from $59.00 to $86.00 and gave the company a "buy" rating in a report on Thursday, August 1st. BTIG Research raised their price target on shares of Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a report on Monday, August 26th. Truist Financial reaffirmed a "buy" rating and set a $78.00 price target (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating on shares of Q2 in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.64.

Q2 Stock Performance

Shares of NYSE:QTWO traded down $0.98 during trading on Thursday, hitting $84.66. The company's stock had a trading volume of 542,086 shares, compared to its average volume of 580,199. The company has a 50-day moving average of $78.02 and a 200-day moving average of $67.59. Q2 Holdings, Inc. has a 12 month low of $28.91 and a 12 month high of $86.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -73.58 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 analysts' consensus estimates of ($0.03) by ($0.03). Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The firm had revenue of $172.89 million for the quarter, compared to the consensus estimate of $170.67 million. On average, sell-side analysts expect that Q2 Holdings, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of Q2 stock in a transaction that occurred 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 sale, the director now owns 397,702 shares in the company, valued at approximately $29,927,075.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,963 shares of company stock worth $3,109,699. Company insiders own 3.00% of the company's stock.

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.