State of New Jersey Common Pension Fund D Has $2.12 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

State of New Jersey Common Pension Fund D cut its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,508 shares of the technology company’s stock after selling 3,245 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Q2 were worth $2,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Q2 during the 1st quarter valued at $173,000. Swiss National Bank lifted its stake in shares of Q2 by 0.5% during the 1st quarter. Swiss National Bank now owns 115,700 shares of the technology company’s stock worth $6,081,000 after buying an additional 600 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Q2 by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 11,019 shares of the technology company’s stock worth $579,000 after buying an additional 747 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Q2 by 25.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,341 shares of the technology company’s stock valued at $1,069,000 after buying an additional 4,090 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Q2 in the 1st quarter valued at about $281,000.

Insider Transactions at Q2

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. This represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,963 shares of company stock valued at $2,321,659. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QTWO. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and upped their target price for the company from $72.00 to $90.00 in a research report on Friday, October 18th. BTIG Research upped their price objective on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Needham & Company LLC lifted their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Finally, Compass Point lifted their price objective on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Q2 Price Performance

Shares of Q2 stock opened at $97.83 on Friday. The company’s fifty day simple moving average is $82.11 and its two-hundred day simple moving average is $70.58. Q2 Holdings, Inc. has a 12-month low of $34.59 and a 12-month high of $105.00. The firm has a market cap of $5.91 billion, a PE ratio of -102.63 and a beta of 1.58. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99.

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.