Q2 Holdings, Inc. $QTWO Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in Q2 Holdings, Inc. by 15.7%, owning 345,918 shares after acquiring an additional 47,054 shares, bringing their stake to approximately $27.7 million.
• Various hedge funds have adjusted their positions in Q2 Holdings, with substantial increases including SG Americas Securities LLC lifting its holdings by 377.9% in the first quarter.
• Q2 Holdings has received positive reviews from analysts, with multiple upgrades and a consensus rating of "Moderate Buy", and an average price target of $101.06.

Aberdeen Group plc increased its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 345,918 shares of the technology company's stock after purchasing an additional 47,054 shares during the period. Aberdeen Group plc owned approximately 0.56% of Q2 worth $27,677,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QTWO. Envestnet Asset Management Inc. grew its holdings in shares of Q2 by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,356 shares of the technology company's stock worth $9,799,000 after acquiring an additional 1,622 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Q2 during the fourth quarter valued at $18,271,000. Townsquare Capital LLC bought a new stake in shares of Q2 in the fourth quarter worth approximately $290,000. Summit Investment Advisors Inc. lifted its holdings in shares of Q2 by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after buying an additional 195 shares during the period. Finally, Mariner LLC grew its stake in shares of Q2 by 36.2% during the 4th 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 period.

Q2 Stock Performance

QTWO stock traded up $3.8350 during midday trading on Friday, reaching $79.4750. 222,775 shares of the company traded hands, compared to its average volume of 707,374. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 1,590.28 and a beta of 1.47. Q2 Holdings, Inc. has a 52-week low of $63.61 and a 52-week high of $112.82. The business has a 50 day moving average of $86.21 and a 200-day moving average of $84.31.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 786 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares in the company, valued at $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 9,485 shares of company stock worth $750,307 in the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QTWO has been the topic of several analyst reports. Robert W. Baird lifted their target price on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. Raymond James Financial dropped their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Morgan Stanley raised their price objective on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC upped their target price on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $101.06.

Q2 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.