GAMMA Investing LLC Boosts Stake in Q2 Holdings, Inc. (NYSE:QTWO)

GAMMA Investing LLC increased its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 10,149.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,084 shares of the technology company's stock after purchasing an additional 27,810 shares during the period. GAMMA Investing LLC's holdings in Q2 were worth $2,247,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in Q2 by 1.1% in the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock valued at $1,761,000 after buying an additional 190 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Q2 by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after purchasing an additional 195 shares in the last quarter. Moran Wealth Management LLC boosted its stake in shares of Q2 by 2.7% during the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock valued at $817,000 after purchasing an additional 215 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Q2 by 269.6% in the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after acquiring an additional 275 shares during the period. Finally, TCTC Holdings LLC acquired a new position in shares of Q2 in the fourth quarter worth approximately $30,000.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 16,241 shares in the company, valued at $1,425,472.57. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction dated 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 now directly owns 175,812 shares of the company's stock, 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 quarter, insiders sold 40,014 shares of company stock valued at $3,251,601. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

QTWO has been the topic of a number of recent analyst reports. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Raymond James cut their price objective on Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada cut their price objective on Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a report on Monday, April 7th. Finally, Cantor Fitzgerald initiated coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $99.50.

Q2 Stock Down 3.2%

QTWO stock traded down $2.85 on Friday, reaching $85.62. 510,590 shares of the company traded hands, compared to its average volume of 643,367. Q2 Holdings, Inc. has a one year low of $55.97 and a one year high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $5.33 billion, a P/E ratio of -131.73 and a beta of 1.48. The firm has a fifty day simple moving average of $83.54 and a 200-day simple moving average of $89.20.

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.