Pier Capital LLC Sells 28,838 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Pier Capital LLC trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,734 shares of the technology company's stock after selling 28,838 shares during the quarter. Q2 accounts for about 1.3% of Pier Capital LLC's holdings, making the stock its 23rd largest position. Pier Capital LLC owned about 0.15% of Q2 worth $9,334,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Congress Wealth Management LLC DE bought a new stake in shares of Q2 during the fourth quarter valued at about $220,000. LPL Financial LLC increased its holdings in Q2 by 35.3% during the 4th quarter. LPL Financial LLC now owns 25,569 shares of the technology company's stock worth $2,574,000 after acquiring an additional 6,666 shares during the period. Fox Run Management L.L.C. purchased a new stake in Q2 in the 4th quarter worth approximately $308,000. KLP Kapitalforvaltning AS bought a new position in Q2 in the 4th quarter valued at $1,228,000. Finally, Summit Global Investments bought a new position in Q2 in the 4th quarter valued at $971,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QTWO. Citigroup boosted their target price on Q2 from $96.00 to $100.00 and gave the stock a "neutral" 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. The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research report on Friday. Raymond James increased their price target on shares of Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $105.47.

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Q2 Trading Down 2.4 %

Shares of QTWO traded down $2.01 during trading hours on Friday, reaching $80.71. 622,575 shares of the company traded hands, compared to its average volume of 639,781. Q2 Holdings, Inc. has a 12 month low of $46.50 and a 12 month high of $112.82. The company's fifty day moving average price is $86.84 and its two-hundred day moving average price is $90.66. 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 market capitalization of $4.90 billion, a price-to-earnings ratio of -124.16 and a beta of 1.62.

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

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan Price sold 42,652 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total value of $3,172,029.24. Following the completion of the sale, the chief financial officer now directly owns 209,378 shares in the company, valued at approximately $15,571,441.86. This represents a 16.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock worth $11,959,517 in the last three months. 3.00% of the stock is 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.