Massachusetts Financial Services Co. MA Raises Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 28.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,724,135 shares of the technology company's stock after acquiring an additional 378,394 shares during the period. Massachusetts Financial Services Co. MA owned about 2.77% of Q2 worth $137,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Conestoga Capital Advisors LLC grew its position in Q2 by 1.6% during 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 during the last quarter. Capital Research Global Investors grew its position in shares of Q2 by 11.2% in the 4th 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 last quarter. Geode Capital Management LLC grew its position in shares of Q2 by 2.7% in the 4th 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 last quarter. Ameriprise Financial Inc. grew its position in shares of Q2 by 105.8% in 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, Assenagon Asset Management S.A. grew its position in shares of Q2 by 1,043.1% in 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 buying an additional 871,437 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus upped their price target on Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Compass Point reiterated a "neutral" rating and issued a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. The Goldman Sachs Group reduced their price target on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. started coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of "Moderate Buy" and an average price target of $100.41.

Insider Buying and Selling

In related news, General Counsel Michael S. Kerr sold 397 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the transaction, the general counsel directly owned 58,441 shares of the company's stock, valued at approximately $5,429,168.90. This represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $88.88, for a total value of $126,920.64. Following the transaction, the executive directly owned 175,812 shares in the company, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,991 shares of company stock valued at $357,153. 0.31% of the stock is owned by company insiders.

Q2 Stock Up 1.2%

QTWO stock traded up $1.09 during trading on Thursday, reaching $91.50. 488,302 shares of the stock were exchanged, compared to its average volume of 637,398. The firm's 50 day moving average is $90.35 and its 200 day moving average is $86.90. Q2 Holdings, Inc. has a twelve month low of $61.51 and a twelve month high of $112.82. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.70 billion, a P/E ratio of -261.42 and a beta of 1.48.

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.