Q2 Holdings, Inc. $QTWO Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 93.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,395 shares of the technology company’s stock after selling 332,432 shares during the quarter. Voya Investment Management LLC’s holdings in Q2 were worth $1,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of QTWO. Headlands Technologies LLC acquired a new position in Q2 during the second quarter worth about $26,000. WPG Advisers LLC acquired a new position in shares of Q2 during the 1st quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after purchasing an additional 539 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Q2 by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after purchasing an additional 220 shares in the last quarter. Finally, Hilltop National Bank increased its holdings in shares of Q2 by 9.8% in the third quarter. Hilltop National Bank now owns 2,077 shares of the technology company’s stock valued at $150,000 after purchasing an additional 185 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on QTWO shares. Cantor Fitzgerald lowered their price objective on Q2 from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Stifel Nicolaus cut their price objective on shares of Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Royal Bank Of Canada decreased their target price on shares of Q2 from $102.00 to $86.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Finally, Needham & Company LLC dropped their price target on shares of Q2 from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.36.

Q2 Price Performance

NYSE QTWO opened at $74.34 on Tuesday. The stock has a market capitalization of $4.65 billion, a P/E ratio of 154.88 and a beta of 1.37. The firm’s 50-day moving average is $70.12 and its two-hundred day moving average is $76.85. Q2 Holdings, Inc. has a 12 month low of $58.57 and a 12 month high of $103.71.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). Q2 had a net margin of 4.12% and a return on equity of 10.92%. The company had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $197.87 million. During the same period last year, the firm posted ($0.20) earnings per share. Q2’s revenue was up 15.2% on a year-over-year basis. As a group, analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the transaction, the executive directly owned 166,512 shares in the company, valued at $12,564,995.52. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kirk L. Coleman sold 8,559 shares of Q2 stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $630,627.12. Following the completion of the sale, the insider directly owned 269,128 shares of the company’s stock, valued at $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,883 shares of company stock valued at $1,547,778 over the last quarter. 3.00% of the stock is owned by company insiders.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.