Assenagon Asset Management S.A. Acquires 871,437 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Assenagon Asset Management S.A. boosted its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 1,043.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 954,979 shares of the technology company's stock after buying an additional 871,437 shares during the period. Assenagon Asset Management S.A. owned approximately 1.57% of Q2 worth $76,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in Q2 by 17.3% in the 1st quarter. Handelsbanken Fonder AB now owns 422,916 shares of the technology company's stock valued at $33,838,000 after purchasing an additional 62,400 shares during the period. SG Americas Securities LLC boosted its holdings in Q2 by 377.9% in the 1st quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $977,000 after purchasing an additional 9,658 shares during the period. Rhumbline Advisers lifted its holdings in shares of Q2 by 6.9% during the 1st quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock worth $6,987,000 after acquiring an additional 5,672 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Q2 by 2.6% during the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock worth $792,000 after acquiring an additional 255 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Q2 by 10,149.6% during the 1st quarter. GAMMA Investing LLC now owns 28,084 shares of the technology company's stock worth $2,247,000 after acquiring an additional 27,810 shares during the last quarter.

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 397 shares of Q2 stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the sale, the general counsel now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the transaction, the director now owns 16,241 shares in the company, valued at approximately $1,425,472.57. This trade represents a 5.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,014 shares of company stock worth $3,251,601. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QTWO shares. Cantor Fitzgerald started coverage on shares of Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective for the company. Compass Point reaffirmed a "neutral" rating and set a $60.00 price objective on shares of Q2 in a report on Monday, April 7th. Needham & Company LLC dropped their price objective on shares of Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Stifel Nicolaus lifted their price objective on shares of Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their price objective on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.50.

Q2 Trading Down 3.2%

Shares of NYSE QTWO traded down $2.85 during midday trading on Friday, hitting $85.62. 510,590 shares of the company traded hands, compared to its average volume of 644,175. Q2 Holdings, Inc. has a 12-month low of $55.97 and a 12-month high of $112.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day moving average price of $83.54 and a 200 day moving average price of $88.98. The firm has a market cap of $5.33 billion, a P/E ratio of -131.73 and a beta of 1.48.

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.