The Manufacturers Life Insurance Company Lowers Position in Q2 Holdings, Inc. (NYSE:QTWO)

The Manufacturers Life Insurance Company decreased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 547,073 shares of the technology company's stock after selling 68,570 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.91% of Q2 worth $43,640,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company's stock worth $37,832,000 after purchasing an additional 683,957 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Q2 by 13.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 25,329 shares of the technology company's stock worth $1,331,000 after buying an additional 3,080 shares during the period. Comerica Bank grew its stake in Q2 by 4.4% in the 1st quarter. Comerica Bank now owns 172,251 shares of the technology company's stock valued at $9,054,000 after buying an additional 7,299 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Q2 by 67.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company's stock valued at $2,908,000 after acquiring an additional 22,400 shares during the period. Finally, CWM LLC lifted its position in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company's stock worth $29,000 after acquiring an additional 169 shares in the last quarter.

Insider Activity

In other 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 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. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares of the company's stock, valued at $4,331,671.80. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,493 shares of company stock valued at $196,863. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QTWO shares. BTIG Research boosted their price target on shares of Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, August 26th. Citigroup cut Q2 from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. DA Davidson upped their target price on Q2 from $76.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. 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. Finally, Needham & Company LLC upped their price objective on shares of Q2 from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $91.50.

Q2 Stock Up 0.2 %

NYSE:QTWO traded up $0.25 during midday trading on Friday, reaching $104.74. 258,710 shares of the stock traded hands, compared to its average volume of 596,407. 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 company has a fifty day moving average of $88.38 and a 200 day moving average of $73.84. Q2 Holdings, Inc. has a 12 month low of $35.20 and a 12 month high of $108.00.

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.