Intech Investment Management LLC Has $2.77 Million Position in Q2 Holdings, Inc. $QTWO

Key Points

• Intech Investment Management LLC increased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 67.0%, owning 34,561 shares valued at approximately $2.77 million at the end of Q1.
• Multiple institutional investors, including Rhumbline Advisers and SG Americas Securities LLC, have also boosted their holdings in Q2, indicating strong institutional interest.
• Analysts have set new price targets for Q2 shares, with ratings ranging from strong buy to overweight, projecting a consensus target price of $102.25.

Intech Investment Management LLC raised its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 67.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,561 shares of the technology company's stock after purchasing an additional 13,866 shares during the quarter. Intech Investment Management LLC owned 0.06% of Q2 worth $2,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rhumbline Advisers boosted its holdings in Q2 by 6.9% in the first quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock worth $6,987,000 after purchasing an additional 5,672 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Q2 during the fourth quarter valued at about $140,000. SG Americas Securities LLC raised its position in shares of Q2 by 377.9% during the first quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $977,000 after buying an additional 9,658 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Q2 by 31.0% during the first quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company's stock valued at $196,000 after buying an additional 578 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Q2 during the first quarter valued at about $2,864,000.

Q2 Stock Down 0.6%

Shares of NYSE QTWO opened at $82.23 on Monday. The company's fifty day moving average is $82.51 and its 200-day moving average is $82.95. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 1,644.93 and a beta of 1.49. Q2 Holdings, Inc. has a twelve month low of $63.61 and a twelve month high of $112.82.

Insiders Place Their Bets

In related news, Director James Offerdahl sold 786 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the sale, the director directly owned 17,792 shares in the company, valued at $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the sale, the insider owned 149,643 shares in the company, valued at $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on QTWO. Cantor Fitzgerald began coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. Stifel Nicolaus increased their price target on shares of Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price target on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Zacks Research raised shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.25.

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.

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