New York State Common Retirement Fund lifted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 484,457 shares of the technology company’s stock after buying an additional 17,940 shares during the period. New York State Common Retirement Fund owned about 1.16% of Q2 worth $20,178,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strs Ohio increased its holdings in Q2 by 6.6% during the 2nd quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock worth $299,000 after purchasing an additional 500 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Q2 by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 67,332 shares of the technology company’s stock worth $2,487,000 after purchasing an additional 701 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Q2 by 38.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock worth $102,000 after purchasing an additional 759 shares in the last quarter. Sei Investments Co. increased its holdings in Q2 by 36.9% during the 2nd quarter. Sei Investments Co. now owns 3,557 shares of the technology company’s stock worth $131,000 after purchasing an additional 959 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Q2 by 19.7% during the 2nd quarter. Legal & General Group Plc now owns 7,256 shares of the technology company’s stock worth $269,000 after purchasing an additional 1,195 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Shares of Q2 Holdings, Inc. (NYSE QTWO) traded down $0.20 during midday trading on Thursday, hitting $38.05. The stock had a trading volume of 238,400 shares, compared to its average volume of 220,325. Q2 Holdings, Inc. has a 12 month low of $28.30 and a 12 month high of $44.35.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. Q2 had a negative net margin of 15.27% and a negative return on equity of 20.50%. The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $50.05 million. During the same period last year, the business posted ($0.24) EPS. Q2’s revenue was up 30.8% on a year-over-year basis. sell-side analysts expect that Q2 Holdings, Inc. will post -0.48 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. J P Morgan Chase & Co cut Q2 from an “overweight” rating to a “neutral” rating and set a $50.00 price objective for the company. in a report on Tuesday. DA Davidson assumed coverage on Q2 in a report on Thursday, November 16th. They issued a “neutral” rating and a $38.00 price objective for the company. BidaskClub upgraded Q2 from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. BTIG Research restated a “buy” rating and issued a $47.00 price objective on shares of Q2 in a report on Sunday, November 5th. Finally, SunTrust Banks restated a “buy” rating on shares of Q2 in a report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $45.36.

In related news, Director R. H. Seale sold 45,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $41.95, for a total value of $1,887,750.00. Following the completion of the sale, the director now directly owns 383,828 shares in the company, valued at approximately $16,101,584.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl James Schaper sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $39.41, for a total transaction of $788,200.00. Following the completion of the sale, the director now owns 44,172 shares of the company’s stock, valued at $1,740,818.52. The disclosure for this sale can be found here. Insiders sold a total of 1,001,526 shares of company stock valued at $41,539,847 over the last quarter. 24.50% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: This article was published by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/12/14/q2-holdings-inc-qtwo-position-increased-by-new-york-state-common-retirement-fund.html.

Q2 Profile

Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.

Want to see what other hedge funds are holding QTWO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Q2 Holdings, Inc. (NYSE:QTWO).

Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

Receive News & Ratings for Q2 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 and related companies with MarketBeat.com's FREE daily email newsletter.