Handelsbanken Fonder AB Acquires 62,400 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Handelsbanken Fonder AB boosted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 422,916 shares of the technology company's stock after purchasing an additional 62,400 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.70% of Q2 worth $33,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QTWO. Proficio Capital Partners LLC purchased a new stake in Q2 in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Q2 in the fourth quarter valued at about $30,000. TCTC Holdings LLC purchased a new position in shares of Q2 in the fourth quarter worth about $30,000. Versant Capital Management Inc purchased a new stake in Q2 during the 1st quarter valued at about $33,000. Finally, NewEdge Advisors LLC lifted its stake in 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 in the last quarter.

Q2 Stock Down 0.5%

Shares of QTWO stock traded down $0.42 during mid-day trading on Thursday, reaching $88.68. 58,786 shares of the company were exchanged, compared to its average volume of 641,993. The company has a market capitalization of $5.53 billion, a P/E ratio of -136.43 and a beta of 1.48. The business's 50 day simple moving average is $82.81 and its 200 day simple moving average is $89.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a fifty-two week low of $55.97 and a fifty-two week high of $112.82.

Insider Buying and Selling

In other news, General Counsel Michael S. Kerr sold 397 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the sale, the general counsel now directly owns 58,441 shares of the company's stock, valued at $5,429,168.90. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew P. Flake sold 36,023 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,586 shares of company stock worth $3,124,681 over the last ninety days. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QTWO has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Truist Financial reaffirmed a "buy" rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price target on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Stephens reissued an "overweight" rating and set a $115.00 price target on shares of Q2 in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy 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 $99.50.

Q2 Company 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.