Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Tensile Capital Management LP

Tensile Capital Management LP cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 867,767 shares of the technology company’s stock after selling 65,000 shares during the period. Q2 makes up 9.1% of Tensile Capital Management LP’s holdings, making the stock its 3rd biggest holding. Tensile Capital Management LP’s holdings in Q2 were worth $87,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC increased its holdings in Q2 by 104.0% during the 3rd quarter. Barclays PLC now owns 163,138 shares of the technology company’s stock worth $13,012,000 after purchasing an additional 83,181 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Q2 by 38.6% in the third quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company’s stock valued at $14,095,000 after purchasing an additional 49,233 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Q2 during the fourth quarter valued at approximately $348,000. Dakota Wealth Management grew its holdings in Q2 by 189.8% during the fourth quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock worth $1,613,000 after buying an additional 10,498 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Q2 in the 4th quarter valued at $288,000.

Analyst Ratings Changes

A number of research firms have issued reports on QTWO. Stephens reaffirmed an “overweight” rating and set a $115.00 price objective on shares of Q2 in a report on Thursday, February 13th. Robert W. Baird raised their price target on shares of Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Q2 from $89.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Raymond James decreased their price objective on shares of Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, Citigroup boosted their target price on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $98.80.

Q2 Price Performance

Q2 stock opened at $91.00 on Friday. The business’s 50 day simple moving average is $79.20 and its 200 day simple moving average is $90.44. Q2 Holdings, Inc. has a 12 month low of $55.97 and a 12 month high of $112.82. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -139.99 and a beta of 1.47. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58.

Q2 (NYSE:QTWO) last issued its quarterly 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%. Sell-side analysts forecast that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other Q2 news, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction 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 owns 453,849 shares in the company, valued at $35,527,299.72. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael S. Kerr sold 397 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the transaction, the general counsel now directly owns 58,441 shares of the company’s stock, valued at $5,429,168.90. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,255 shares of company stock valued at $14,890,846. 0.31% of the stock is owned by insiders.

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.