Deutsche Bank AG cut its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,098 shares of the technology company's stock after selling 4,911 shares during the quarter. Deutsche Bank AG owned 0.08% of Q2 worth $4,168,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Q2 in the fourth quarter valued at approximately $18,271,000. Rhumbline Advisers boosted its holdings in Q2 by 6.9% in the first quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock valued at $6,987,000 after purchasing an additional 5,672 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Q2 in the fourth quarter valued at $140,000. Mariner LLC boosted its holdings in Q2 by 36.2% in the fourth quarter. Mariner LLC now owns 3,644 shares of the technology company's stock valued at $367,000 after purchasing an additional 968 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Q2 by 377.9% in the first 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.
Q2 Trading Up 4.6%
Shares of NYSE:QTWO traded up $3.51 during midday trading on Friday, hitting $79.15. The stock had a trading volume of 148,715 shares, compared to its average volume of 706,922. The company has a market capitalization of $4.94 billion, a PE ratio of 1,580.64 and a beta of 1.47. The stock has a 50 day moving average price of $86.21 and a two-hundred day moving average price of $84.31. Q2 Holdings, Inc. has a 1 year low of $63.61 and a 1 year high of $112.82.
Insider Activity at Q2
In related news, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the sale, the insider owned 149,643 shares in the company, valued at $11,263,628.61. This trade represents a 3.92% decrease in their ownership of the stock. The sale 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 firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director owned 17,792 shares of the company's stock, valued at $1,319,276.80. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,485 shares of company stock worth $750,307 over the last 90 days. Company insiders own 0.31% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on QTWO. Robert W. Baird lifted their target price on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Zacks Research raised shares of Q2 to a "strong-buy" rating in a report on Friday, August 8th. Cantor Fitzgerald assumed coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.06.
Read Our Latest Research Report on QTWO
About Q2
(
Free Report)
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.
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