Allianz Asset Management GmbH Invests $10.40 Million in Q2 Holdings, Inc. (NYSE:QTWO)

Key Points

• Allianz Asset Management GmbH purchased 129,945 shares of Q2 Holdings, Inc. for approximately $10.4 million, representing a 0.21% ownership stake in the company.
• Notable insider transactions occurred, with CRO Michael A. Volanoski and General Counsel Michael S. Kerr selling shares, reducing their holdings by 0.81% and 0.67%, respectively.
• Wall Street analysts have a generally favorable outlook on Q2, with a consensus rating of "Moderate Buy" and a price target averaging $100.41.

Allianz Asset Management GmbH acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 129,945 shares of the technology company's stock, valued at approximately $10,397,000. Allianz Asset Management GmbH owned 0.21% of Q2 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Q2 during the fourth quarter valued at $18,271,000. Rhumbline Advisers lifted its holdings in shares of Q2 by 6.9% during the first quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock valued at $6,987,000 after purchasing an additional 5,672 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Q2 during the fourth quarter valued at $140,000. Mariner LLC lifted its holdings in shares of Q2 by 36.2% during the fourth quarter. Mariner LLC now owns 3,644 shares of the technology company's stock valued at $367,000 after purchasing an additional 968 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Q2 by 377.9% during the first quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $977,000 after purchasing an additional 9,658 shares during the last quarter.

Analysts Set New Price Targets

QTWO has been the subject of several research analyst reports. Wall Street Zen downgraded Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. JPMorgan Chase & Co. initiated coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 target price on the stock. Cantor Fitzgerald initiated coverage on Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price target for the company. Royal Bank Of Canada reduced their price target on Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Raymond James Financial reduced their price target on Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.41.

Q2 Stock Performance

QTWO stock traded down $0.29 during trading on Wednesday, reaching $90.11. 963,909 shares of the stock were exchanged, compared to its average volume of 405,637. Q2 Holdings, Inc. has a twelve month low of $61.51 and a twelve month high of $112.82. The company has a market capitalization of $5.61 billion, a P/E ratio of -257.46 and a beta of 1.48. The stock has a 50 day simple moving average of $90.30 and a 200-day simple moving average of $86.35. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the transaction, the executive directly owned 175,812 shares of the company's stock, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the sale, the director directly owned 16,241 shares in the company, valued at approximately $1,425,472.57. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,991 shares of company stock worth $357,153 over the last quarter. Company insiders own 0.31% of the company's stock.

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.