Allspring Global Investments Holdings LLC Has $11.66 Million Stake in Q2 Holdings, Inc. $QTWO

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Q2 Holdings, Inc. (QTWO) by 9.5%, now holding 124,555 shares valued at approximately $11.66 million.
• Analysts have mixed views on Q2 Holdings: Royal Bank of Canada increased their price target to $102.00, while Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating.
• Insiders have sold a total of 8,499 shares of Q2 stock over the last quarter, with a notable sale by insider John E. Breeden at an average price of $75.27.

Allspring Global Investments Holdings LLC reduced its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,555 shares of the technology company's stock after selling 13,139 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Q2 worth $11,657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its position in Q2 by 2.3% during the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after purchasing an additional 60,958 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock valued at $137,948,000 after purchasing an additional 378,394 shares in the last quarter. Jennison Associates LLC raised its position in Q2 by 3.3% during the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock valued at $104,155,000 after purchasing an additional 41,412 shares in the last quarter. Perpetual Ltd raised its position in Q2 by 4.7% during the first quarter. Perpetual Ltd now owns 787,636 shares of the technology company's stock valued at $63,019,000 after purchasing an additional 35,660 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Q2 by 5.4% during the first quarter. Federated Hermes Inc. now owns 746,938 shares of the technology company's stock valued at $59,763,000 after purchasing an additional 38,315 shares in the last quarter.

Q2 Trading Up 0.8%

Shares of QTWO opened at $59.73 on Friday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 1,194.84 and a beta of 1.47. The firm's fifty day simple moving average is $74.24 and its two-hundred day simple moving average is $81.39. Q2 Holdings, Inc. has a 12 month low of $58.57 and a 12 month high of $112.82.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Q2 from a "buy" rating to a "hold" rating in a report on Friday, September 26th. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, September 24th. 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, July 31st. Finally, Zacks Research downgraded shares of Q2 from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Q2 presently has a consensus rating of "Hold" and an average target price of $100.69.

Insider Buying and Selling at Q2

In other Q2 news, 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 transaction of $459,523.35. Following the sale, the insider 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 786 shares of the stock in a transaction dated 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. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,499 shares of company stock valued at $650,658. 0.31% of the stock is currently owned by insiders.

Q2 Company 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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