Jennison Associates LLC Acquires 41,412 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC raised its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,301,772 shares of the technology company's stock after purchasing an additional 41,412 shares during the quarter. Jennison Associates LLC owned 2.09% of Q2 worth $104,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Conestoga Capital Advisors LLC grew its stake in shares of Q2 by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock worth $156,651,000 after acquiring an additional 30,480 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock valued at $137,948,000 after buying an additional 378,394 shares during the period. Capital Research Global Investors grew its position in Q2 by 11.2% during the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock valued at $152,825,000 after buying an additional 152,872 shares during the period. Geode Capital Management LLC grew its position in Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock valued at $140,175,000 after buying an additional 36,025 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Q2 by 105.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after buying an additional 520,649 shares during the period.

Q2 Price Performance

QTWO traded down $0.07 during trading on Tuesday, reaching $89.89. The stock had a trading volume of 59,295 shares, compared to its average volume of 632,538. The business has a 50-day moving average of $90.34 and a 200-day moving average of $86.56. Q2 Holdings, Inc. has a one year low of $61.51 and a one year high of $112.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market cap of $5.60 billion, a PE ratio of -256.63 and a beta of 1.48.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 397 shares of the firm's 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 transaction, the general counsel owned 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the transaction, the director owned 16,241 shares in the company, valued at $1,425,472.57. This represents a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,991 shares of company stock worth $357,153 over the last three months. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Robert W. Baird increased their target price on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. The Goldman Sachs Group reduced their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Needham & Company LLC reduced their target price on shares of Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.41.

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.