Comerica Bank Increases Stock Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• Comerica Bank increased its stake in Q2 Holdings, Inc. by 15.6% in Q1, owning approximately 172,142 shares valued at $13.77 million as of its latest SEC filing.
• Multiple institutional investors made significant modifications to their holdings in Q2, with names like Larson Financial Group growing its stake by 2,630% in the first quarter.
• Analyst ratings for Q2 Holdings show a moderate buy consensus, with various price targets ranging from $93.00 to $110.00 from different brokerages.

Comerica Bank grew its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,142 shares of the technology company's stock after acquiring an additional 23,261 shares during the quarter. Comerica Bank owned about 0.28% of Q2 worth $13,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. raised its stake in shares of Q2 by 5.1% in the first quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock valued at $366,000 after acquiring an additional 224 shares during the period. Mutual of America Capital Management LLC grew its position in Q2 by 0.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock valued at $3,426,000 after acquiring an additional 248 shares during the last quarter. Summit Global Investments grew its position in Q2 by 2.6% in the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after acquiring an additional 255 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Q2 by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,861 shares of the technology company's stock valued at $229,000 after acquiring an additional 259 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position 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 last quarter.

Q2 Trading Up 0.0%

Shares of NYSE QTWO traded up $0.01 during midday trading on Friday, reaching $78.84. The company had a trading volume of 727,684 shares, compared to its average volume of 1,012,715. Q2 Holdings, Inc. has a 1 year low of $63.61 and a 1 year high of $112.82. The business's 50-day simple moving average is $85.09 and its 200 day simple moving average is $83.60. The stock has a market cap of $4.92 billion, a P/E ratio of 1,577.02 and a beta of 1.47.

Insider Buying and Selling

In other news, Director James Offerdahl sold 786 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Breeden sold 6,105 shares of the 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 approximately $11,263,628.61. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,485 shares of company stock worth $750,307. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on QTWO shares. Robert W. Baird upped their price objective on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Needham & Company LLC boosted 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. Zacks Research upgraded Q2 to a "strong-buy" rating in a report on Friday, August 8th. Morgan Stanley boosted their price target on Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. One research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.25.

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.