Intech Investment Management LLC Has $2.77 Million Stock Holdings 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 grew its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 67.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 34,561 shares of the technology company's stock after acquiring an additional 13,866 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Q2 worth $2,765,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in shares of Q2 during the 1st quarter worth $33,000. WPG Advisers LLC bought a new stake in shares of Q2 during the 1st quarter worth $35,000. Larson Financial Group LLC lifted its position in shares of Q2 by 2,630.0% during the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after buying an additional 526 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after buying an additional 303 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Q2 during the 1st quarter worth $58,000.

Analyst Ratings Changes

Several analysts recently weighed in on QTWO shares. Needham & Company LLC upped their price objective on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upped their price objective on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Zacks Research upgraded Q2 to a "strong-buy" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. began coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.25.

Q2 Trading Down 6.8%

QTWO traded down $5.76 on Friday, reaching $78.48. The stock had a trading volume of 13,172,901 shares, compared to its average volume of 1,059,751. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82. The firm has a 50-day moving average of $81.44 and a 200-day moving average of $82.90. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 1,569.91 and a beta of 1.49.

Insider Activity

In other news, insider John E. Breeden sold 6,105 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the sale, the insider owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Offerdahl sold 786 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,499 shares of company stock valued at $650,658. Company insiders own 0.31% of the company's stock.

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.