Connor Clark & Lunn Investment Management Ltd. Acquires 55,107 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 33.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,034 shares of the technology company's stock after acquiring an additional 55,107 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Q2 worth $17,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC lifted its holdings in Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company's stock valued at $29,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC lifted its position in Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company's stock worth $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock worth $148,000 after acquiring an additional 964 shares during the period. Quest Partners LLC purchased a new stake in Q2 in the second quarter valued at approximately $153,000. Finally, Highland Capital Management LLC acquired a new position in Q2 during the third quarter worth approximately $208,000.

Q2 Price Performance

Q2 stock traded up $3.10 during trading hours on Thursday, hitting $104.54. 483,634 shares of the company traded hands, compared to its average volume of 598,135. The firm's 50-day simple moving average is $84.76 and its two-hundred day simple moving average is $72.10. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The firm has a market cap of $6.31 billion, a P/E ratio of -108.90 and a beta of 1.58. Q2 Holdings, Inc. has a 1-year low of $34.59 and a 1-year high of $105.73.

Insider Buying and Selling

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the sale, the director now owns 397,702 shares in the company, valued at $29,927,075.50. The trade was a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,963 shares of company stock worth $2,321,659. Corporate insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on QTWO. Needham & Company LLC boosted their price objective on shares of Q2 from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. DA Davidson upped their target price on Q2 from $76.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Citigroup downgraded Q2 from a "buy" rating to a "neutral" rating and raised their target price for the company from $72.00 to $90.00 in a report on Friday, October 18th. The Goldman Sachs Group upped their price target on Q2 from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Stephens lifted their price objective on shares of Q2 from $75.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.50.

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.