Victory Capital Management Inc. Has $26.10 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Victory Capital Management Inc. cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,260 shares of the technology company's stock after selling 47,174 shares during the period. Victory Capital Management Inc. owned about 0.43% of Q2 worth $26,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its holdings in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock worth $148,000 after acquiring an additional 964 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Q2 by 38.6% during the third quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company's stock worth $14,095,000 after purchasing an additional 49,233 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Q2 by 139.5% in the third quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company's stock valued at $48,558,000 after purchasing an additional 354,524 shares in the last quarter. Versor Investments LP acquired a new position in Q2 during the 3rd quarter worth $590,000. Finally, Chase Investment Counsel Corp boosted its position in Q2 by 4.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 48,365 shares of the technology company's stock valued at $3,858,000 after buying an additional 1,951 shares during the last quarter.

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Insider Buying and Selling at Q2

In related news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business'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 transaction, the insider now directly owns 113,278 shares in the company, valued at approximately $8,396,165.36. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock worth $11,959,517 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QTWO. Truist Financial restated a "buy" rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Needham & Company LLC upped their target price on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Raymond James raised their target price on shares of Q2 from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Q2 has an average rating of "Moderate Buy" and a consensus target price of $105.27.

Q2 Stock Down 3.2 %

Shares of NYSE:QTWO traded down $2.43 during midday trading on Thursday, reaching $72.88. 1,020,150 shares of the company were exchanged, compared to its average volume of 779,668. The firm has a market cap of $4.43 billion, a PE ratio of -112.12 and a beta of 1.62. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a fifty-two week low of $46.50 and a fifty-two week high of $112.82. The stock has a fifty day simple moving average of $90.35 and a two-hundred day simple moving average of $90.03.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS 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%. As a group, sell-side analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.