Federated Hermes Inc. Buys 38,315 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Federated Hermes Inc. lifted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 746,938 shares of the technology company's stock after purchasing 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 quarter.

A number of other large investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its stake in Q2 by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after acquiring an additional 195 shares during the last quarter. Xponance Inc. boosted its stake in 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 last quarter. Mutual of America Capital Management LLC boosted its stake in Q2 by 0.6% in the first 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 boosted its stake in Q2 by 2.6% in the first 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. Finally, NewEdge Advisors LLC boosted its stake in Q2 by 269.6% in the fourth 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 Analysts Forecast Growth

A number of research firms have weighed in on QTWO. JPMorgan Chase & Co. began coverage on shares of Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 target price on the stock. Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Cantor Fitzgerald began coverage on shares of Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price on the stock. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Raymond James Financial lowered their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.06.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the sale, the executive directly owned 175,812 shares in the company, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the transaction, the director directly owned 16,241 shares in the company, valued at $1,425,472.57. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,991 shares of company stock worth $357,153 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Q2 Stock Performance

NYSE QTWO traded down $4.68 on Friday, hitting $76.52. The stock had a trading volume of 1,368,285 shares, compared to its average volume of 536,969. Q2 Holdings, Inc. has a 52-week low of $61.51 and a 52-week high of $112.82. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 1,530.71 and a beta of 1.47. The firm has a 50-day moving average of $89.97 and a 200-day moving average of $86.18.

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.