Legato Capital Management LLC Trims Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Legato Capital Management LLC decreased its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 39.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,830 shares of the technology company's stock after selling 7,105 shares during the period. Legato Capital Management LLC's holdings in Q2 were worth $867,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Q2 by 1,043.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock valued at $76,408,000 after acquiring an additional 871,437 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after purchasing an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after purchasing an additional 655,838 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Q2 by 105.8% during the 4th 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 last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company's stock worth $47,459,000 after buying an additional 424,062 shares during the last quarter.

Q2 Price Performance

Shares of NYSE QTWO traded down $0.18 during mid-day trading on Friday, hitting $89.23. 369,306 shares of the company's stock traded hands, compared to its average volume of 440,786. The company has a market capitalization of $5.56 billion, a P/E ratio of -254.94 and a beta of 1.48. Q2 Holdings, Inc. has a 1 year low of $61.51 and a 1 year high of $112.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43. The company's 50-day moving average is $90.22 and its two-hundred day moving average is $86.47.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Q2 from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Robert W. Baird lifted their target price on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Q2 currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.41.

Insider Transactions at Q2

In other Q2 news, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the transaction, the director directly owned 16,241 shares of the company's stock, valued at $1,425,472.57. The trade was a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 397 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total transaction of $36,881.30. Following the transaction, the general counsel owned 58,441 shares in the company, valued at $5,429,168.90. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,991 shares of company stock worth $357,153. 0.31% of the stock is currently owned by company 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.