Q2 Holdings, Inc. (NYSE:QTWO) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 746,938 shares of the technology company's stock after buying an additional 38,315 shares during the period. Federated Hermes Inc. owned 1.20% of Q2 worth $59,763,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its holdings in shares of Q2 by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock worth $620,000 after purchasing an additional 195 shares during the last quarter. Xponance Inc. increased its stake in Q2 by 5.1% in the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock worth $366,000 after acquiring an additional 224 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Q2 by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock worth $3,426,000 after acquiring an additional 248 shares in the last quarter. Summit Global Investments raised its stake in Q2 by 2.6% during the first quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after purchasing an additional 255 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings 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 acquiring an additional 275 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Raymond James Financial lowered their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada upped 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. Finally, JPMorgan Chase & Co. assumed coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.06.

Insider Activity

In related news, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the transaction, the director directly owned 16,241 shares of the company's stock, valued at $1,425,472.57. This represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the sale, the general counsel directly owned 58,441 shares in the company, valued at approximately $5,429,168.90. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,991 shares of company stock worth $357,153. 0.31% of the stock is currently owned by company insiders.

Q2 Stock Down 5.8%

Shares of NYSE QTWO traded down $4.68 during mid-day trading on Friday, hitting $76.52. The company had a trading volume of 1,368,285 shares, compared to its average volume of 676,694. The company has a market capitalization of $4.77 billion, a PE ratio of 1,530.71 and a beta of 1.48. The business's 50-day simple moving average is $90.18 and its 200 day simple moving average is $86.29. Q2 Holdings, Inc. has a 1-year low of $61.51 and a 1-year high of $112.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43.

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.