Aberdeen Group plc Boosts Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

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 grew its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,918 shares of the technology company's stock after buying an additional 47,054 shares during the period. Aberdeen Group plc owned 0.56% of Q2 worth $27,677,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in QTWO. Raymond James Financial Inc. purchased a new position in shares of Q2 during the 4th quarter worth approximately $18,271,000. Rhumbline Advisers lifted its holdings in Q2 by 6.9% during the 1st quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock worth $6,987,000 after buying an additional 5,672 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Q2 during the 4th quarter worth approximately $140,000. Mariner LLC lifted its holdings in Q2 by 36.2% during the 4th quarter. Mariner LLC now owns 3,644 shares of the technology company's stock worth $367,000 after buying an additional 968 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Q2 by 377.9% during the 1st quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock worth $977,000 after buying an additional 9,658 shares in the last quarter.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Offerdahl sold 786 shares of the firm'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 transaction, the director directly owned 17,792 shares in the company, valued at $1,319,276.80. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,380 shares of company stock worth $378,554 over the last quarter. 0.31% of the stock is owned by company insiders.

Q2 Price Performance

Shares of NYSE:QTWO opened at $74.55 on Friday. The company's fifty day moving average price is $87.35 and its 200 day moving average price is $84.79. Q2 Holdings, Inc. has a 12 month low of $63.61 and a 12 month high of $112.82. The firm has a market capitalization of $4.65 billion, a P/E ratio of 1,491.30 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QTWO shares. Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a report on Friday, August 8th. Royal Bank Of Canada raised their price objective on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Needham & Company LLC raised their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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