Axiom Investors LLC DE Sells 122,345 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Axiom Investors LLC DE reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 52.0%, owning 113,105 shares valued at approximately $9 million after selling 122,345 shares in the first quarter.
• Several hedge funds have significantly increased their investments in Q2, with Assenagon Asset Management boosting its stake by 1,043.1%, leading to a holding of nearly 955,000 shares.
• Equities analysts have mixed ratings on Q2, with a current consensus of "Moderate Buy" and a target price averaging $101.06, reflecting varying outlooks on the company's stock performance.

Axiom Investors LLC DE reduced its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 52.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,105 shares of the technology company's stock after selling 122,345 shares during the period. Axiom Investors LLC DE owned approximately 0.18% of Q2 worth $9,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of QTWO. Versant Capital Management Inc acquired a new stake in Q2 in the 1st quarter valued at $33,000. NewEdge Advisors LLC boosted its stake in shares of 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 purchasing an additional 275 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Q2 by 2,630.0% in the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after purchasing an additional 526 shares during the last quarter. TCTC Holdings LLC increased its position in shares of Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after purchasing an additional 303 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in Q2 in the first quarter valued at about $58,000.

Wall Street Analysts Forecast Growth

QTWO has been the subject of several recent analyst reports. Robert W. Baird raised 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. JPMorgan Chase & Co. began coverage on Q2 in a report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price target for the company. Morgan Stanley boosted their price objective on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Cantor Fitzgerald assumed coverage on Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.25.

Q2 Trading Up 1.9%

Shares of NYSE:QTWO traded up $1.45 during trading on Wednesday, hitting $78.17. 631,856 shares of the company's stock were exchanged, compared to its average volume of 714,394. The firm has a market cap of $4.88 billion, a P/E ratio of 1,563.61 and a beta of 1.47. The firm has a 50-day moving average price of $85.48 and a two-hundred day moving average price of $83.85. Q2 Holdings, Inc. has a 1-year low of $63.61 and a 1-year high of $112.82.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. The trade was a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Offerdahl sold 786 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the completion of the transaction, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,485 shares of company stock valued at $750,307. Company insiders own 3.00% of the company's stock.

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.