AlphaQuest LLC Sells 6,188 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• AlphaQuest LLC reduced its stake in Q2 Holdings by 35.8%, selling 6,188 shares and ending up with 11,099 shares worth approximately $1,039,000.
• Insider trading activity included Directors selling a total of 8,499 shares over the last 90 days, impacting their ownership percentages.
• Analysts have mixed opinions on Q2's stock; Needham & Company raised their price target to $115.00, while Zacks Research downgraded it to a "hold" rating.

AlphaQuest LLC decreased its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 35.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,099 shares of the technology company's stock after selling 6,188 shares during the quarter. AlphaQuest LLC's holdings in Q2 were worth $1,039,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Q2 in the 1st quarter valued at about $51,960,000. Massachusetts Financial Services Co. MA increased its stake in Q2 by 28.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock valued at $137,948,000 after buying an additional 378,394 shares during the last quarter. Victory Capital Management Inc. increased its stake in Q2 by 56.4% in the 1st quarter. Victory Capital Management Inc. now owns 405,501 shares of the technology company's stock valued at $32,444,000 after buying an additional 146,241 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Q2 during the 1st quarter worth approximately $10,738,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Q2 by 30.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 565,503 shares of the technology company's stock worth $45,246,000 after purchasing an additional 132,038 shares during the last quarter.

Insider Transactions at Q2

In other news, Director James Offerdahl sold 786 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the transaction, the director owned 17,792 shares in the company, valued at approximately $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John E. Breeden sold 6,105 shares of the stock in a transaction that occurred 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 transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,499 shares of company stock worth $650,658. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on QTWO. Needham & Company LLC raised their price target on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Zacks Research cut shares of Q2 from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Weiss Ratings restated a "hold (c-)" rating on shares of Q2 in a research report on Saturday. Stifel Nicolaus decreased their price objective on shares of Q2 from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Q2 from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 24th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $100.69.

Q2 Price Performance

NYSE:QTWO opened at $62.29 on Friday. Q2 Holdings, Inc. has a one year low of $58.57 and a one year high of $112.82. The company's 50-day simple moving average is $72.91 and its 200 day simple moving average is $81.09. The firm has a market capitalization of $3.89 billion, a P/E ratio of 1,246.09 and a beta of 1.47.

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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