Massachusetts Financial Services Co. MA Buys 698,464 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA raised its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 107.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,345,741 shares of the technology company's stock after buying an additional 698,464 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.23% of Q2 worth $135,449,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. William Blair Investment Management LLC acquired a new position in shares of Q2 in the fourth quarter valued at $202,645,000. State Street Corp increased its holdings in Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company's stock valued at $133,118,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Q2 by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock valued at $140,175,000 after buying an additional 36,025 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after acquiring an additional 655,838 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Q2 by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock valued at $51,036,000 after acquiring an additional 10,636 shares in the last quarter.

Insider Transactions at Q2

In other Q2 news, CEO Matthew P. Flake sold 56,799 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the sale, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. The trade was a 11.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,858 shares of company stock valued at $14,853,965. Company insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on QTWO shares. Raymond James increased their price objective on Q2 from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Stephens reissued an "overweight" rating and set a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Citigroup upped their price objective on shares of Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. KeyCorp upgraded shares of Q2 from a "sector weight" rating to an "overweight" rating and set a $126.00 target price for the company in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group decreased their price target on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.33.

Q2 Stock Performance

Shares of Q2 stock traded down $4.72 during trading on Thursday, reaching $71.91. The company's stock had a trading volume of 152,983 shares, compared to its average volume of 647,488. Q2 Holdings, Inc. has a 52 week low of $49.56 and a 52 week high of $112.82. The firm has a market cap of $4.37 billion, a PE ratio of -110.43 and a beta of 1.61. The business's 50-day moving average price is $82.79 and its 200-day moving average price is $90.47. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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%. Equities analysts forecast that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

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.