State of New Jersey Common Pension Fund D Has $2.36 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

State of New Jersey Common Pension Fund D cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,408 shares of the technology company's stock after selling 3,100 shares during the period. State of New Jersey Common Pension Fund D's holdings in Q2 were worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QTWO. Quarry LP raised its holdings in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company's stock valued at $30,000 after purchasing an additional 336 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new position in shares of Q2 during the fourth quarter worth about $32,000. CWM LLC grew its stake in shares of Q2 by 199.8% in the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company's stock valued at $115,000 after purchasing an additional 961 shares during the last quarter. International Assets Investment Management LLC grew its position in Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company's stock valued at $146,000 after buying an additional 1,812 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock valued at $148,000 after acquiring an additional 964 shares in the last quarter.

Q2 Stock Down 3.2 %

QTWO stock traded down $2.86 during midday trading on Friday, hitting $87.84. 1,083,272 shares of the company's stock were exchanged, compared to its average volume of 690,979. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $97.14 and a 200-day moving average price of $88.95. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -135.13 and a beta of 1.61. Q2 Holdings, Inc. has a 12-month low of $43.55 and a 12-month high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other Q2 news, President Kirk L. Coleman sold 10,428 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $106.42, for a total value of $1,109,747.76. Following the sale, the president now directly owns 337,643 shares in the company, valued at approximately $35,931,968.06. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 4,178 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $442,868.00. Following the sale, the executive now directly owns 223,494 shares of the company's stock, valued at approximately $23,690,364. This represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,288 shares of company stock worth $3,003,523 in the last three months. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

QTWO has been the topic of several research analyst reports. Robert W. Baird reissued a "neutral" rating and set a $99.00 price target (up previously from $89.00) on shares of Q2 in a research note on Friday, January 10th. Raymond James increased their target price on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of Q2 from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their target price on shares of Q2 from $65.00 to $90.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.13.

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.