Massachusetts Financial Services Co. MA Cuts Position in Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA lessened its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 647,277 shares of the technology company's stock after selling 157,601 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.07% of Q2 worth $51,633,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in QTWO. CWM LLC increased its position in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company's stock valued at $29,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC grew its position in shares of Q2 by 7,878.3% in the 3rd 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 last quarter. Asset Management One Co. Ltd. grew its position in shares of Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock worth $148,000 after buying an additional 964 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Q2 in the 2nd quarter worth approximately $153,000. Finally, nVerses Capital LLC purchased a new position in shares of Q2 in the 2nd quarter worth approximately $181,000.

Analyst Ratings Changes

A number of analysts recently commented on QTWO shares. Needham & Company LLC lifted their target price 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. Compass Point lifted their target price on shares of Q2 from $91.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. DA Davidson lifted their target price on shares of Q2 from $76.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. BTIG Research lifted their price objective on shares of Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Finally, Truist Financial restated a "buy" rating and set a $100.00 price objective (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.50.

Insider Activity

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares of the company's stock, valued at $4,331,671.80. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Offerdahl sold 1,013 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the sale, the director now directly owns 18,789 shares in the company, valued at $1,389,822.33. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,958 shares of company stock valued at $214,282. 3.00% of the stock is currently owned by insiders.

Q2 Trading Up 0.5 %

Shares of QTWO stock traded up $0.54 on Monday, hitting $106.91. 320,149 shares of the stock traded hands, compared to its average volume of 596,539. The firm's 50-day moving average price is $86.05 and its two-hundred day moving average price is $72.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market capitalization of $6.46 billion, a PE ratio of -110.80 and a beta of 1.58. Q2 Holdings, Inc. has a twelve month low of $34.59 and a twelve month high of $107.96.

Q2 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.