Picton Mahoney Asset Management Has $5.02 Million Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Picton Mahoney Asset Management lessened its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,881 shares of the technology company's stock after selling 11,459 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.08% of Q2 worth $5,023,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QTWO. Highland Capital Management LLC boosted its stake in Q2 by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company's stock valued at $279,000 after acquiring an additional 172 shares during the period. Arizona State Retirement System boosted its position in shares of Q2 by 1.1% during the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock worth $1,761,000 after buying an additional 190 shares during the period. Moran Wealth Management LLC boosted its position in shares of Q2 by 2.7% during the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock worth $817,000 after buying an additional 215 shares during the period. Parallax Volatility Advisers L.P. boosted its position in shares of Q2 by 5.5% during the third quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company's stock worth $443,000 after buying an additional 288 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Q2 during the fourth quarter worth approximately $30,000.

Insider Activity

In related news, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the transaction, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. This represents a 11.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,835 shares of company stock worth $11,959,517 in the last 90 days. Company insiders own 3.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QTWO shares. Stifel Nicolaus boosted their price objective on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Baird R W downgraded Q2 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Robert W. Baird reiterated a "neutral" rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. KeyCorp upgraded Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price objective for the company in a research report on Wednesday, December 18th. Finally, Needham & Company LLC boosted their target price on Q2 from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.27.

Q2 Stock Down 0.2 %

Shares of QTWO traded down $0.12 during trading hours on Thursday, reaching $78.53. The company's stock had a trading volume of 598,178 shares, compared to its average volume of 614,516. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -120.82 and a beta of 1.62. Q2 Holdings, Inc. has a 1-year low of $46.50 and a 1-year high of $112.82. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $88.47 and a two-hundred day moving average of $90.22.

Q2 (NYSE:QTWO - Get Free Report) last issued its earnings results 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 negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, research analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.