Connor Clark & Lunn Investment Management Ltd. Sells 24,490 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its position in Q2 Holdings, Inc. by 15.1%, now holding 137,685 shares valued at approximately $11 million.
• Q2 Holdings, Inc. has seen a fluctuation in its stock price, with a 12-month low of $63.61 and a high of $112.82, while the stock is currently down 1.3%.
• Analyst sentiments are mixed, with eight analysts holding and eleven giving a buy rating, alongside a consensus target price of $101.06.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,685 shares of the technology company's stock after selling 24,490 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Q2 worth $11,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of QTWO. Versant Capital Management Inc bought a new position in Q2 in the first quarter valued at about $33,000. NewEdge Advisors LLC lifted 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 worth $38,000 after purchasing an additional 275 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Q2 by 2,630.0% in the first quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after buying an additional 526 shares during the last quarter. TCTC Holdings LLC grew its position in Q2 by 103.1% during the first quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after buying an additional 303 shares during the period. Finally, Transce3nd LLC purchased a new stake in Q2 during the fourth quarter valued at approximately $98,000.

Q2 Stock Performance

Shares of NYSE QTWO traded up $1.19 during trading on Wednesday, reaching $76.33. The stock had a trading volume of 736,488 shares, compared to its average volume of 931,385. The stock has a market cap of $4.77 billion, a PE ratio of 1,526.91 and a beta of 1.47. Q2 Holdings, Inc. has a one year low of $63.61 and a one year high of $112.82. The firm's 50 day moving average price is $87.98 and its two-hundred day moving average price is $85.16.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QTWO. Raymond James Financial lowered their price target on Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC raised their price target on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. Finally, Robert W. Baird raised their price target on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.06.

Insider Transactions at Q2

In related news, Director James Offerdahl sold 786 shares of Q2 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 transaction, the director owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction that occurred 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 sale, the executive owned 175,812 shares in the company, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,380 shares of company stock worth $378,554. Corporate insiders own 0.31% 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.