AlphaQuest LLC Raises Stake in Q2 Holdings, Inc. $QTWO

Key Points

• AlphaQuest LLC significantly increased its stake in Q2 Holdings, Inc. by 248.4%, owning 17,287 shares worth approximately $1.38 million as of the latest SEC filing.
• Insider sales occurred with John E. Breeden selling 6,105 shares and James Offerdahl selling 786 shares, leading to decreases in their ownership percentages.
• Q2 Holdings has received mixed analyst ratings with a consensus price target of $101.06, including multiple upgrades from firms like Morgan Stanley and Robert W. Baird.

AlphaQuest LLC increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 248.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,287 shares of the technology company's stock after purchasing an additional 12,325 shares during the period. AlphaQuest LLC's holdings in Q2 were worth $1,383,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Q2 by 2.3% in the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after acquiring an additional 60,958 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Q2 by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock worth $156,651,000 after buying an additional 30,480 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Q2 by 28.1% in 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 acquiring an additional 378,394 shares during the period. Jennison Associates LLC lifted its holdings in Q2 by 3.3% during the 1st quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock valued at $104,155,000 after buying an additional 41,412 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Q2 by 105.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after purchasing an additional 520,649 shares in the last quarter.

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 completion of the transaction, the insider directly owned 149,643 shares in the company, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Offerdahl sold 786 shares of Q2 stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director owned 17,792 shares in the company, valued at approximately $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 three months, insiders have sold 9,485 shares of company stock valued at $750,307. Company insiders own 0.31% of the company's stock.

Q2 Stock Performance

Shares of Q2 stock opened at $79.53 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82. The company has a market cap of $4.97 billion, a P/E ratio of 1,590.92 and a beta of 1.47. The firm has a 50-day simple moving average of $86.09 and a two-hundred day simple moving average of $84.20.

Analyst Ratings Changes

Several research firms have issued reports on QTWO. Morgan Stanley lifted their target price on Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Robert W. Baird raised their price objective on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. initiated coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 target price on the stock. Royal Bank Of Canada boosted their price target on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Zacks Research raised shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $101.06.

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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