Brown Capital Management LLC trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,991,583 shares of the technology company's stock after selling 368,181 shares during the period. Q2 comprises 3.4% of Brown Capital Management LLC's investment portfolio, making the stock its 13th biggest holding. Brown Capital Management LLC owned approximately 3.30% of Q2 worth $158,869,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in QTWO. CWM LLC raised its holdings in shares of Q2 by 54.2% in 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 in the last quarter. International Assets Investment Management LLC lifted its position in shares of Q2 by 7,878.3% during 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 holdings in shares of Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company's stock worth $148,000 after purchasing an additional 964 shares during the last quarter. Quest Partners LLC purchased a new stake in Q2 in the second quarter valued at approximately $153,000. Finally, SG Americas Securities LLC acquired a new stake in Q2 during the 1st quarter worth $173,000.
Insider Buying and Selling
In related news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now directly owns 227,672 shares of the company's stock, valued at approximately $16,376,446.96. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now owns 397,702 shares in the company, valued at approximately $29,927,075.50. The trade was a 6.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,963 shares of company stock worth $2,321,659. Corporate insiders own 3.00% of the company's stock.
Analyst Ratings Changes
QTWO has been the subject of a number of analyst reports. Piper Sandler increased their target price on Q2 from $74.00 to $93.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Q2 from $90.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Compass Point boosted 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. Finally, BTIG Research boosted their target price on Q2 from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.50.
Get Our Latest Research Report on QTWO
Q2 Trading Up 3.1 %
Shares of NYSE:QTWO traded up $3.10 during midday trading on Thursday, hitting $104.54. The company had a trading volume of 483,634 shares, compared to its average volume of 598,135. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -108.89 and a beta of 1.58. Q2 Holdings, Inc. has a 12 month low of $34.59 and a 12 month high of $105.73. The firm has a fifty day simple moving average of $84.76 and a 200 day simple moving average of $72.10. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.
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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