State of New Jersey Common Pension Fund D Has $2.05 Million Position in Q2 Holdings, Inc. $QTWO

State of New Jersey Common Pension Fund D reduced its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,931 shares of the technology company’s stock after selling 624 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Q2 were worth $2,053,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QTWO. Allspring Global Investments Holdings LLC grew its holdings in Q2 by 7.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 137,694 shares of the technology company’s stock worth $11,017,000 after acquiring an additional 9,710 shares during the period. Penserra Capital Management LLC grew its holdings in Q2 by 2.3% during the 1st quarter. Penserra Capital Management LLC now owns 81,391 shares of the technology company’s stock worth $6,512,000 after acquiring an additional 1,855 shares during the period. Cerity Partners LLC grew its holdings in Q2 by 52.7% during the 1st quarter. Cerity Partners LLC now owns 3,391 shares of the technology company’s stock worth $271,000 after acquiring an additional 1,170 shares during the period. Xponance Inc. grew its holdings in Q2 by 5.1% during the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company’s stock worth $366,000 after acquiring an additional 224 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in Q2 by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company’s stock worth $3,426,000 after acquiring an additional 248 shares during the period.

Insider Transactions at Q2

In other news, Director James Offerdahl sold 786 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company’s stock, valued at $1,319,276.80. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John E. Breeden sold 6,105 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the sale, the insider directly owned 149,643 shares of the company’s stock, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,499 shares of company stock worth $650,658 in the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QTWO. Royal Bank Of Canada raised their target price on Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research note on Wednesday, October 8th. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Stifel Nicolaus reduced their target price on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Finally, Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $99.44.

Q2 Stock Performance

Shares of NYSE QTWO opened at $61.07 on Thursday. Q2 Holdings, Inc. has a fifty-two week low of $58.57 and a fifty-two week high of $112.82. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 1,221.72 and a beta of 1.47. The firm’s 50-day simple moving average is $72.09 and its 200 day simple moving average is $80.85.

About Q2

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.