Alberta Investment Management Corp Sells 19,026 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Key Points

• Alberta Investment Management Corp reduced its holdings in Q2 Holdings, Inc. by 44.8%, selling 19,026 shares and retaining 23,426 shares valued at approximately $1.87 million.
• Notable insider transactions include General Counsel Michael S. Kerr selling 397 shares at an average price of $92.90 and CRO Michael A. Volanoski selling 1,428 shares for about $126,920.
• Q2 Holdings has received a consensus rating of "Moderate Buy" from analysts, with price targets ranging from $93 to $115, reflecting general optimism about the stock's potential.

Alberta Investment Management Corp decreased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 44.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,426 shares of the technology company's stock after selling 19,026 shares during the period. Alberta Investment Management Corp's holdings in Q2 were worth $1,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Q2 in the first quarter worth about $33,000. NewEdge Advisors LLC grew its holdings in shares of Q2 by 269.6% in the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after purchasing an additional 275 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Q2 by 2,630.0% in the first quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after purchasing an additional 526 shares during the last quarter. TCTC Holdings LLC grew its holdings in shares of Q2 by 103.1% in the first quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after purchasing an additional 303 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of Q2 in the fourth quarter worth about $98,000.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 397 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total transaction of $36,881.30. Following the transaction, the general counsel owned 58,441 shares in the company, valued at $5,429,168.90. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction dated 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 owned 175,812 shares in the company, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,991 shares of company stock valued at $357,153. 3.00% of the stock is currently owned by insiders.

Q2 Stock Performance

QTWO stock opened at $76.52 on Monday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 1,530.71 and a beta of 1.47. The firm has a 50-day simple moving average of $89.97 and a two-hundred day simple moving average of $86.08. Q2 Holdings, Inc. has a one year low of $61.51 and a one year high of $112.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC upped their price target on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada upped their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a report on Thursday. Raymond James Financial cut their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus upped their price objective on shares of Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.06.

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.

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