Teacher Retirement System of Texas Acquires 11,973 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Teacher Retirement System of Texas lifted its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 121.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,803 shares of the technology company's stock after buying an additional 11,973 shares during the period. Teacher Retirement System of Texas' holdings in Q2 were worth $2,194,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Q2 in the 4th quarter worth $29,000. Quarry LP lifted its stake in shares of Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company's stock worth $30,000 after acquiring an additional 336 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Q2 during the 4th quarter valued at approximately $30,000. TCTC Holdings LLC bought a new position in Q2 during the 4th quarter valued at $30,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Q2 during the 4th quarter worth $32,000.

Insiders Place Their Bets

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the company's 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 of the company's stock, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company's stock, valued at $1,516,518.36. The trade was a 5.48 % 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 valued at $11,959,517 in the last quarter. Insiders own 3.00% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on QTWO. Baird R W lowered shares of Q2 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Stifel Nicolaus upped their price objective on Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Robert W. Baird reiterated a "neutral" rating and issued a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. KeyCorp raised Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 price target on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a research note 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, Q2 presently has an average rating of "Moderate Buy" and an average target price of $105.47.

Q2 Stock Down 2.4 %

Shares of NYSE QTWO traded down $2.01 during trading hours on Friday, hitting $80.71. The stock had a trading volume of 622,575 shares, compared to its average volume of 639,781. The company has a market capitalization of $4.90 billion, a P/E ratio of -124.16 and a beta of 1.62. The firm's 50-day moving average price is $86.84 and its two-hundred day moving average price is $90.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a 52 week low of $46.50 and a 52 week high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly 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 positive return on equity of 0.85% and a negative net margin of 5.53%. Analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.