Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,175 shares of the technology company’s stock after selling 58,859 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Q2 worth $16,323,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versor Investments LP purchased a new position in shares of Q2 during the third quarter worth approximately $590,000. State Street Corp raised its stake in shares of Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Q2 by 32.2% during the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after acquiring an additional 7,475 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after buying an additional 42,433 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Q2 in the third quarter worth $1,227,000.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Needham & Company LLC lifted their target price on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James lifted their target price on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price 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. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $105.27.

Insider Activity

In related news, Director James Offerdahl sold 1,000 shares of the company’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 transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan Price sold 42,652 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the completion of the transaction, the chief financial officer now owns 209,378 shares in the company, valued at approximately $15,571,441.86. The trade was a 16.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,835 shares of company stock worth $11,959,517. Corporate insiders own 3.00% of the company’s stock.

Q2 Stock Performance

Shares of QTWO stock opened at $72.88 on Friday. Q2 Holdings, Inc. has a 12 month low of $46.50 and a 12 month high of $112.82. The stock has a market cap of $4.43 billion, a PE ratio of -112.12 and a beta of 1.62. 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 company’s fifty day moving average price is $90.35 and its 200-day moving average price is $90.03.

Q2 (NYSE:QTWO) last announced its earnings results 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 negative net margin of 5.53% and a positive return on equity of 0.85%. On average, equities analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal 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.