Handelsbanken Fonder AB Grows Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Handelsbanken Fonder AB grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 422,916 shares of the technology company's stock after acquiring an additional 62,400 shares during the period. Handelsbanken Fonder AB owned about 0.70% of Q2 worth $33,838,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QTWO. Janney Montgomery Scott LLC bought a new position in Q2 in the 4th quarter valued at approximately $288,000. Charles Schwab Investment Management Inc. lifted its position in Q2 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company's stock valued at $51,036,000 after acquiring an additional 10,636 shares in the last quarter. Raymond James Financial Inc. bought a new position in Q2 in the 4th quarter valued at approximately $18,271,000. SBI Securities Co. Ltd. bought a new position in Q2 in the 4th quarter valued at approximately $30,000. Finally, Entropy Technologies LP bought a new position in Q2 in the 4th quarter valued at approximately $872,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on QTWO shares. The Goldman Sachs Group lowered their price objective on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Cantor Fitzgerald assumed coverage on Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price target on the stock. Needham & Company LLC lowered their price target on Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Robert W. Baird increased their price target on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus increased their price target on Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.50.

Q2 Price Performance

QTWO stock traded down $2.85 during trading on Friday, reaching $85.62. The company's stock had a trading volume of 510,590 shares, compared to its average volume of 644,175. Q2 Holdings, Inc. has a 1 year low of $55.97 and a 1 year high of $112.82. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $5.33 billion, a P/E ratio of -131.73 and a beta of 1.48. The company's fifty day moving average is $83.54 and its 200-day moving average is $89.20.

Insider Transactions at Q2

In related news, CEO Matthew P. Flake sold 36,023 shares of Q2 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 of the company's stock, valued at $39,023,263.10. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the transaction, the executive now directly owns 175,812 shares in the company, valued at approximately $15,626,170.56. The trade was a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,014 shares of company stock valued at $3,251,601. 0.31% of the stock is currently owned by company insiders.

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.