Allspring Global Investments Holdings LLC Raises Position in Q2 Holdings, Inc. (NYSE:QTWO)

Allspring Global Investments Holdings LLC raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,694 shares of the technology company's stock after purchasing an additional 9,710 shares during the period. Allspring Global Investments Holdings LLC owned 0.23% of Q2 worth $11,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Highland Capital Management LLC raised its position in Q2 by 25.3% during the first quarter. Highland Capital Management LLC now owns 3,477 shares of the technology company's stock valued at $278,000 after purchasing an additional 702 shares during the period. Perpetual Ltd raised its holdings in shares of Q2 by 4.7% in the first quarter. Perpetual Ltd now owns 787,636 shares of the technology company's stock worth $63,019,000 after buying an additional 35,660 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Q2 by 7.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 140,251 shares of the technology company's stock worth $11,221,000 after buying an additional 10,000 shares during the period. Bessemer Group Inc. raised its holdings in shares of Q2 by 4.1% in the first quarter. Bessemer Group Inc. now owns 328,625 shares of the technology company's stock worth $26,294,000 after buying an additional 12,879 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Q2 by 31.0% in the first quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company's stock worth $196,000 after buying an additional 578 shares during the period.

Insider Buying and Selling at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 397 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the sale, the general counsel owned 58,441 shares of the company's stock, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total value of $87,770.00. Following the sale, the director owned 16,241 shares of the company's stock, valued at approximately $1,425,472.57. This represents a 5.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,991 shares of company stock valued at $357,153. 0.31% of the stock is currently owned by corporate insiders.

Q2 Stock Up 0.4%

NYSE QTWO traded up $0.39 during midday trading on Friday, hitting $92.69. 248,849 shares of the company traded hands, compared to its average volume of 646,285. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $5.77 billion, a PE ratio of -264.81 and a beta of 1.48. The company's 50-day simple moving average is $88.44 and its 200-day simple moving average is $87.54. Q2 Holdings, Inc. has a 52 week low of $60.00 and a 52 week high of $112.82.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QTWO shares. Stifel Nicolaus increased their price target on Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley increased their price target on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. Royal Bank Of Canada reduced their price target on Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Finally, Robert W. Baird increased their price objective on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.41.

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.