TimesSquare Capital Management LLC Cuts Stake in Q2 Holdings, Inc. (NYSE:QTWO)

TimesSquare Capital Management LLC trimmed its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 344,525 shares of the technology company's stock after selling 71,060 shares during the quarter. TimesSquare Capital Management LLC owned 0.57% of Q2 worth $27,483,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hood River Capital Management LLC bought a new stake in Q2 in the 1st quarter valued at $62,765,000. American Century Companies Inc. boosted its position in shares of Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company's stock worth $73,008,000 after buying an additional 1,190,274 shares during the period. Perpetual Ltd bought a new position in shares of Q2 during the third quarter worth about $80,788,000. Price T Rowe Associates Inc. MD lifted its stake in Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company's stock valued at $37,832,000 after acquiring an additional 683,957 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Q2 during the 2nd quarter worth approximately $13,490,000.

Insider Buying and Selling

In related news, General Counsel Michael S. Kerr sold 517 shares of the company's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the sale, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael S. Kerr sold 517 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Price sold 11,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the transaction, the executive vice president now owns 215,079 shares in the company, valued at approximately $15,408,259.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,963 shares of company stock valued at $3,109,699 over the last quarter. Insiders own 3.00% of the company's stock.

Q2 Trading Up 0.5 %

Q2 stock traded up $0.49 during mid-day trading on Friday, hitting $102.74. 842,640 shares of the stock were exchanged, compared to its average volume of 665,535. The firm's fifty day simple moving average is $80.37 and its two-hundred day simple moving average is $69.66. The company has a quick ratio of 2.44, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a 12 month low of $32.97 and a 12 month high of $105.00. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of -107.02 and a beta of 1.58.

Wall Street Analyst Weigh In

QTWO has been the topic of a number of research reports. Truist Financial reissued a "buy" rating and issued a $100.00 price objective (up previously from $78.00) on shares of Q2 in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of Q2 from $76.00 to $105.00 and gave the stock a "sector perform" rating in a research report on Thursday. BTIG Research raised their price objective on Q2 from $75.00 to $82.00 and gave the company a "buy" rating in a report on Monday, August 26th. The Goldman Sachs Group upped their target price on Q2 from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Stephens raised their price target on Q2 from $75.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.79.

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.