Synovus Financial Corp Trims Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Synovus Financial Corp trimmed its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,614 shares of the technology company’s stock after selling 824 shares during the period. Synovus Financial Corp’s holdings in Q2 were worth $1,169,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Q2 by 61.8% during 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 in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Q2 during the 4th quarter worth about $288,000. Charles Schwab Investment Management Inc. raised its stake in Q2 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after purchasing an additional 10,636 shares during the last quarter. Dakota Wealth Management lifted its holdings in Q2 by 189.8% in the 4th quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 10,498 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Q2 during the fourth quarter worth about $18,271,000.

Insiders Place Their Bets

In other Q2 news, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the sale, the chief executive officer now directly owns 453,849 shares of the company’s stock, valued at $35,527,299.72. The trade was a 11.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock worth $14,853,965 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Q2 Price Performance

Shares of NYSE QTWO opened at $76.82 on Wednesday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -118.18 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a 1-year low of $49.56 and a 1-year high of $112.82. The business has a 50-day moving average of $81.21 and a 200-day moving average of $90.37.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QTWO has been the topic of a number of analyst reports. Robert W. Baird restated a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Stephens restated an “overweight” rating and set a $115.00 price objective on shares of Q2 in a report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.33.

Q2 Company 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.