Jennison Associates LLC reduced its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,517,634 shares of the technology company's stock after selling 348,209 shares during the period. Jennison Associates LLC owned about 2.52% of Q2 worth $121,062,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its position in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company's stock worth $29,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC lifted 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 acquiring an additional 1,812 shares during the period. Asset Management One Co. Ltd. increased its holdings in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock valued at $148,000 after purchasing an additional 964 shares in the last quarter. Quest Partners LLC acquired a new stake in Q2 during the 2nd quarter valued at $153,000. Finally, Highland Capital Management LLC acquired a new stake in Q2 during the 3rd quarter valued at $208,000.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Compass Point raised their price target on Q2 from $91.00 to $107.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on Q2 from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Truist Financial reaffirmed a "buy" rating and set a $100.00 price target (up from $78.00) on shares of Q2 in a report on Thursday, November 7th. Piper Sandler raised their price target on Q2 from $74.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Q2 from $86.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.50.
Read Our Latest Stock Report on QTWO
Q2 Stock Up 3.1 %
Shares of Q2 stock traded up $3.10 during trading on Thursday, reaching $104.54. The stock had a trading volume of 483,634 shares, compared to its average volume of 598,135. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -108.89 and a beta of 1.58. The stock has a fifty day moving average price of $84.76 and a two-hundred day moving average price of $72.10. Q2 Holdings, Inc. has a 52 week low of $34.59 and a 52 week high of $105.73. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.
Insider Activity
In related news, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the sale, the executive now directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Offerdahl sold 1,013 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the sale, the director now owns 18,789 shares of the company's stock, valued at approximately $1,389,822.33. This trade represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,963 shares of company stock worth $2,321,659 over the last three months. Corporate insiders own 3.00% of the company's stock.
About Q2
(
Free Report)
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.
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