FJ Capital Management LLC Purchases New Stake in Q2 Holdings, Inc. $QTWO

Key Points

• FJ Capital Management LLC acquired 4,035 shares of Q2 Holdings, Inc. (NYSE:QTWO) during Q1, with a total investment value of approximately $323,000.
• Insider John E. Breeden sold 6,105 shares at an average price of $75.27, resulting in a decrease of 3.92% in his ownership stake.
• Q2 Holdings has a consensus rating of "Moderate Buy" among analysts, with a target price of $102.25 following several positive ratings upgrades.

FJ Capital Management LLC purchased a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 4,035 shares of the technology company's stock, valued at approximately $323,000.

A number of other institutional investors have also made changes to their positions in QTWO. Cubist Systematic Strategies LLC grew its stake in Q2 by 100.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 84,718 shares of the technology company's stock worth $6,778,000 after buying an additional 42,410 shares during the last quarter. Graham Capital Management L.P. bought a new position in Q2 during the 1st quarter worth $692,000. DRW Securities LLC bought a new position in Q2 during the 1st quarter worth $254,000. The Manufacturers Life Insurance Company grew its stake in Q2 by 30.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 565,503 shares of the technology company's stock worth $45,246,000 after buying an additional 132,038 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in Q2 during the 1st quarter worth $35,000.

Insider Activity

In other news, Director James Offerdahl sold 786 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company's stock, valued at $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John E. Breeden sold 6,105 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the sale, the insider directly owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,485 shares of company stock valued at $750,307 over the last three months. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald started coverage on Q2 in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective for the company. Wall Street Zen cut shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Royal Bank Of Canada lifted their price objective on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.25.

Q2 Price Performance

Shares of Q2 stock traded up $1.64 during trading on Friday, hitting $78.91. The stock had a trading volume of 706,631 shares, compared to its average volume of 765,501. The firm has a market cap of $4.93 billion, a P/E ratio of 1,578.42 and a beta of 1.49. The business has a fifty day moving average of $83.47 and a two-hundred day moving average of $83.16. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82.

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.