Assenagon Asset Management S.A. Reduces Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• Assenagon Asset Management S.A. reduced its stake in Q2 Holdings, Inc. by 55.3%, selling 528,403 shares and leaving it with 426,576 shares valued at approximately $39.9 million.
• Several investment firms have recently increased their positions in Q2 Holdings, highlighting ongoing interest in the company amid changes in ownership.
• Analysts' ratings for Q2 Holdings include an average target price of $102.25, with one analyst rating it as a "Strong Buy" and multiple others giving it "Buy" ratings.

Assenagon Asset Management S.A. trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 55.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 426,576 shares of the technology company's stock after selling 528,403 shares during the quarter. Assenagon Asset Management S.A. owned 0.68% of Q2 worth $39,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Q2 by 2.3% during the 1st 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 during the period. Conestoga Capital Advisors LLC increased its position in Q2 by 1.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock valued at $156,651,000 after purchasing an additional 30,480 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Q2 by 28.1% during 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 in the last quarter. Jennison Associates LLC boosted its holdings in shares of 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, Perpetual Ltd boosted its holdings in shares of Q2 by 4.7% during the 1st quarter. Perpetual Ltd now owns 787,636 shares of the technology company's stock valued at $63,019,000 after buying an additional 35,660 shares in the last quarter.

Analyst Upgrades and Downgrades

QTWO has been the topic of a number of research reports. Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a report on Friday, August 8th. Needham & Company LLC upped their price target on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 8th. Cantor Fitzgerald assumed coverage on shares of Q2 in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 target price for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

Q2 Stock Performance

NYSE QTWO traded up $0.78 on Monday, reaching $78.96. 1,406,847 shares of the company's stock traded hands, compared to its average volume of 1,666,246. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 1,579.56 and a beta of 1.49. The stock has a 50 day moving average price of $81.21 and a 200-day moving average price of $82.97. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82.

Insiders Place Their Bets

In other news, insider John E. Breeden sold 6,105 shares of the business's stock in a transaction dated 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 sale, the insider owned 149,643 shares of the company's stock, valued at $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Offerdahl sold 786 shares of the business's 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 sale, the director directly owned 17,792 shares of the company's stock, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,499 shares of company stock worth $650,658. Company insiders own 3.00% of the company's stock.

Q2 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.