Teachers Retirement System of The State of Kentucky Takes Position in Q2 Holdings, Inc. $QTWO

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO) in the third quarter, HoldingsChannel reports. The firm acquired 16,000 shares of the technology company’s stock, valued at approximately $1,159,000.

Several other institutional investors have also recently added to or reduced their stakes in QTWO. Vanguard Group Inc. lifted its holdings in Q2 by 13.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock valued at $572,772,000 after purchasing an additional 941,672 shares in the last quarter. Norges Bank purchased a new stake in shares of Q2 during the second quarter worth about $60,466,000. American Century Companies Inc. raised its position in shares of Q2 by 60.5% in the second quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock valued at $102,303,000 after buying an additional 411,930 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Q2 by 502.5% in the third quarter. Principal Financial Group Inc. now owns 301,917 shares of the technology company’s stock valued at $21,856,000 after buying an additional 251,807 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in shares of Q2 during the third quarter valued at approximately $17,631,000.

Q2 Stock Performance

Shares of QTWO stock opened at $52.86 on Friday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 66.91 and a beta of 1.40. Q2 Holdings, Inc. has a one year low of $46.16 and a one year high of $96.68. The company has a 50 day moving average price of $60.49 and a 200 day moving average price of $67.91.

Insider Buying and Selling at Q2

In related news, insider Kirk L. Coleman sold 31,104 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total value of $1,547,424.00. Following the transaction, the insider directly owned 262,657 shares of the company’s stock, valued at approximately $13,067,185.75. This trade represents a 10.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Breeden sold 33,445 shares of Q2 stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total value of $1,663,888.75. Following the completion of the transaction, the insider owned 159,019 shares in the company, valued at $7,911,195.25. The trade was a 17.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 294,381 shares of company stock worth $15,152,614. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price objective on Q2 from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen downgraded Q2 from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC dropped their target price on Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

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.