Legato Capital Management LLC Sells 7,105 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Legato Capital Management LLC lowered its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 39.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Q2 in the 4th quarter valued at $29,000. Versant Capital Management Inc acquired a new stake in shares of Q2 in the 1st quarter valued at $33,000. NewEdge Advisors LLC boosted its stake in shares of Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after purchasing an additional 275 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Q2 by 2,630.0% in the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock valued at $44,000 after purchasing an additional 526 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Q2 in the 4th quarter valued at $98,000.

Q2 Trading Up 1.1%

NYSE:QTWO traded up $1.02 on Monday, hitting $90.25. 71,651 shares of the stock were exchanged, compared to its average volume of 655,494. 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 capitalization of $5.62 billion, a price-to-earnings ratio of -257.85 and a beta of 1.48. The company's 50-day moving average price is $90.22 and its 200 day moving average price is $86.29. Q2 Holdings, Inc. has a 52 week low of $61.51 and a 52 week high of $112.82.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QTWO. Compass Point reiterated a "neutral" rating and set a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Morgan Stanley upped their price target on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Raymond James Financial reduced their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Needham & Company LLC reduced their price target on shares of Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.41.

Insider Activity

In other news, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the sale, the director directly owned 16,241 shares of the company's stock, valued at $1,425,472.57. This represents a 5.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 value of $36,881.30. Following the completion of the sale, the general counsel directly owned 58,441 shares of the company's stock, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,991 shares of company stock valued at $357,153 in the last ninety days. 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.