Ameriprise Financial Inc. Cuts Stake in Q2 Holdings, Inc. $QTWO

Key Points

• Ameriprise Financial Inc. has decreased its holdings in Q2 Holdings, Inc. by 7.7%, owning 935,252 shares worth approximately $74.83 million at the end of the most recent quarter.
• Various institutional investors, including Larson Financial Group LLC, have significantly increased their stakes in Q2, with Larson raising its position by 2,630% during the first quarter.
• Wall Street analysts have mixed views on Q2, with one strong buy, nine buy ratings, and eight hold ratings, and a current consensus price target of $102.25.

Ameriprise Financial Inc. reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 935,252 shares of the technology company's stock after selling 77,535 shares during the quarter. Ameriprise Financial Inc. owned 1.50% of Q2 worth $74,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in Q2 in the 1st quarter valued at about $33,000. NewEdge Advisors LLC raised its stake in Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after acquiring an additional 275 shares during the period. Larson Financial Group LLC raised its stake in Q2 by 2,630.0% in the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock valued at $44,000 after acquiring an additional 526 shares during the period. TCTC Holdings LLC raised its stake in Q2 by 103.1% in the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after acquiring an additional 303 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Q2 in the 1st quarter valued at about $64,000.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Stifel Nicolaus boosted their price objective on Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Cantor Fitzgerald began coverage on Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price target on the stock. JPMorgan Chase & Co. began coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.25.

Q2 Trading Up 0.0%

Shares of NYSE QTWO traded up $0.01 during midday trading on Friday, hitting $78.84. 727,684 shares of the company's stock were exchanged, compared to its average volume of 1,012,715. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 1,577.02 and a beta of 1.47. The business's fifty day moving average price is $85.09 and its two-hundred day moving average price is $83.60.

Insider Transactions at Q2

In other news, insider John E. Breeden sold 6,105 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total value of $126,920.64. Following the transaction, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. The trade was a 0.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,485 shares of company stock valued at $750,307. 0.31% of the stock is owned by corporate 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.