Q2 Holdings, Inc. (NYSE:QTWO) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 176,695 shares of the technology company's stock after acquiring an additional 49,233 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Q2 worth $14,095,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QTWO. Versor Investments LP purchased a new position in Q2 during the third quarter valued at approximately $590,000. Perpetual Ltd bought a new stake in shares of Q2 during the 3rd quarter valued at $80,788,000. State Street Corp lifted its stake in shares of Q2 by 0.3% during the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock valued at $133,118,000 after buying an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Q2 by 32.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock worth $2,451,000 after buying an additional 7,475 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Q2 in the 3rd quarter worth $1,227,000.

Q2 Trading Down 2.2 %

NYSE:QTWO traded down $2.32 during mid-day trading on Friday, hitting $103.36. 424,067 shares of the stock traded hands, compared to its average volume of 606,323. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of -107.67 and a beta of 1.60. The firm's 50 day moving average is $99.27 and its two-hundred day moving average is $80.55. Q2 Holdings, Inc. has a 52 week low of $39.66 and a 52 week high of $112.82. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling

In other Q2 news, CRO Michael A. Volanoski sold 4,178 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the sale, the executive now owns 223,494 shares in the company, valued at $23,690,364. This represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 548 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the sale, the director now owns 18,241 shares of the company's stock, valued at $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,836 shares of company stock valued at $3,061,035. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QTWO shares. Truist Financial reissued a "buy" rating and set a $100.00 target price (up previously from $78.00) on shares of Q2 in a research note on Thursday, November 7th. KeyCorp upgraded shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price objective on the stock in a research report on Wednesday, December 18th. Citigroup lowered shares of Q2 from a "buy" rating to a "neutral" rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Stephens lifted their price target on shares of Q2 from $75.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, DA Davidson increased their price objective on shares of Q2 from $76.00 to $86.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $95.80.

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.