Q2 Holdings , Inc. (NYSE:QTWO) Chief Financial Officer David J. Mehok sold a total of 2,453 shares of the company's common stock on March 13, 2024, for an aggregate sale price of $122,895, at an approximate price of $50.10 per share.
The transaction was disclosed in a filing with the Securities and Exchange Commission (SEC), which stated that the shares were sold to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units. This sale was mandated by the issuer and was not a discretionary trade by Mehok.
Following the sale, Mehok's direct ownership in Q2 Holdings stands at 151,846 shares. The filing also noted a reduction in the reported amount of shares owned by Mehok compared to his prior Form 4. This adjustment reflects the forfeiture of 4,786 unearned units under a Market Stock Unit Grant, which were not earned due to the failure to meet certain performance measures.
Investors and interested parties have been informed that upon request, Mehok is willing to provide full information regarding the number of shares sold at each separate price within the range stated in the SEC filing.
Q2 Holdings, Inc., headquartered in Austin, Texas, specializes in providing prepackaged software solutions and is known for its commitment to innovation and client service in the technology sector.
InvestingPro Insights
Amid the news of Q2 Holdings, Inc. (NYSE:QTWO) CFO David J. Mehok's recent stock sale, investors may be interested in the company's current financial health and market performance. According to InvestingPro data, Q2 Holdings has a market capitalization of approximately $2.88 billion. Despite a negative P/E ratio of -43.76, reflecting challenges in profitability, the company has shown revenue growth over the last twelve months as of Q4 2023, with an increase of 10.42%. This growth is consistent with the quarterly revenue growth of 10.63% for Q4 2023.
InvestingPro Tips suggest that Q2 Holdings has been experiencing a strong return over the last year, with a 110.09% price total return. This performance is noteworthy considering the company does not pay dividends to shareholders. Moreover, analysts are optimistic about the company's future, as evidenced by seven analysts having revised their earnings upwards for the upcoming period, and predictions that the company will be profitable this year.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available that delve into Q2 Holdings' financial metrics and market predictions. With a total of 14 InvestingPro Tips, including insights on shareholder yield and the company's liquidity position, subscribers can make a more informed decision on whether to invest in QTWO. Interested readers can access these tips by visiting https://www.investing.com/pro/QTWO and can benefit from an extra 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.
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