King Luther Capital Management Corp Reduces Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Key Points

• King Luther Capital Management Corp decreased its stake in Q2 Holdings, Inc. by 21.3% in the first quarter, selling 24,514 shares and retaining 90,661 shares valued at approximately $7.25 million.
• Several large investors, including Invesco Ltd. and Townsquare Capital LLC, have increased their holdings in Q2, with Invesco boosting its position by 2.3% and Townsquare by 20.8% during the same quarter.
• Financial analysts have a consensus rating of "Moderate Buy" for Q2 Holdings, with target price upgrades from firms such as Stifel Nicolaus and Needham & Company, indicating positive sentiment regarding the stock's future performance.

King Luther Capital Management Corp decreased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 21.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,661 shares of the technology company's stock after selling 24,514 shares during the quarter. King Luther Capital Management Corp owned approximately 0.15% of Q2 worth $7,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QTWO. LPL Financial LLC lifted its holdings in Q2 by 35.3% during the 4th quarter. LPL Financial LLC now owns 25,569 shares of the technology company's stock valued at $2,574,000 after buying an additional 6,666 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Q2 by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,356 shares of the technology company's stock valued at $9,799,000 after buying an additional 1,622 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Q2 by 21.7% during the 4th quarter. Russell Investments Group Ltd. now owns 33,489 shares of the technology company's stock valued at $3,371,000 after buying an additional 5,965 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Q2 during the 4th quarter valued at about $18,271,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Q2 by 208.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 381,094 shares of the technology company's stock valued at $38,357,000 after purchasing an additional 257,652 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QTWO. Needham & Company LLC boosted their price target on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Robert W. Baird boosted their price target on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Stifel Nicolaus boosted their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Raymond James Financial reduced their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $101.06.

Q2 Price Performance

NYSE:QTWO traded up $1.19 during trading hours on Wednesday, hitting $76.33. 736,488 shares of the company were exchanged, compared to its average volume of 931,385. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 1,526.91 and a beta of 1.47. Q2 Holdings, Inc. has a 52-week low of $63.61 and a 52-week high of $112.82. The company's 50 day moving average price is $87.98 and its 200-day moving average price is $85.16.

Insider Activity at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the sale, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Offerdahl sold 786 shares of the company'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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 4,380 shares of company stock worth $378,554. 0.31% of the stock is owned by insiders.

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.