State Street Corp Buys 5,000 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

State Street Corp grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,668,767 shares of the technology company's stock after buying an additional 5,000 shares during the quarter. State Street Corp owned 2.76% of Q2 worth $133,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QTWO. Versor Investments LP bought a new position in Q2 in the 3rd quarter worth about $590,000. Perpetual Ltd bought a new stake in Q2 during the 3rd quarter worth approximately $80,788,000. BNP Paribas Financial Markets lifted its stake in Q2 by 32.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company's stock worth $2,451,000 after purchasing an additional 7,475 shares in the last quarter. Intech Investment Management LLC bought a new position in Q2 in the 3rd quarter valued at $1,227,000. Finally, Creative Planning grew its position in shares of Q2 by 62.5% during the 3rd quarter. Creative Planning now owns 19,834 shares of the technology company's stock valued at $1,582,000 after purchasing an additional 7,631 shares in the last quarter.

Insider Activity

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $106.12, for a total value of $543,652.76. Following the completion of the transaction, the executive now owns 218,371 shares of the company's stock, valued at approximately $23,173,530.52. The trade was a 2.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Kirk L. Coleman sold 10,428 shares of Q2 stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares of the company's stock, valued at $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock worth $3,061,035 in the last quarter. 3.00% of the stock is owned by company insiders.

Q2 Trading Down 0.8 %

Shares of NYSE:QTWO traded down $0.80 on Friday, hitting $105.10. The company had a trading volume of 470,315 shares, compared to its average volume of 660,969. Q2 Holdings, Inc. has a 1 year low of $39.64 and a 1 year high of $112.82. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. The firm's 50-day simple moving average is $94.62 and its two-hundred day simple moving average is $77.49.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BTIG Research lifted their price objective on Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Morgan Stanley lifted their price target on Q2 from $65.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Compass Point upped their price objective on shares of Q2 from $91.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Truist Financial reiterated a "buy" rating and set a $100.00 target price (up from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Finally, Citigroup cut shares of Q2 from a "buy" rating to a "neutral" rating and raised their price objective for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Q2 currently has a consensus rating of "Moderate Buy" and an average target price of $91.50.

About Q2

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.