Northern Trust Corp Trims Stake in Q2 Holdings, Inc. $QTWO

Key Points

• Northern Trust Corp reduced its stake in Q2 Holdings, Inc. by 1.3%, bringing its ownership to 603,494 shares valued at approximately $48.3 million.
• Institutional interest in Q2 Holdings has increased significantly, with Assenagon Asset Management raising its position by over 1,000% and other firms like Ameriprise Financial and Massachusetts Financial Services also boosting their holdings during the first quarter.
• Equities analysts have a generally positive outlook for Q2 Holdings, with upgrades leading to an average price target of $102.25 and multiple ratings indicating a "Moderate Buy" sentiment.

Northern Trust Corp reduced its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603,494 shares of the technology company's stock after selling 7,864 shares during the quarter. Northern Trust Corp owned 0.97% of Q2 worth $48,286,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of QTWO. Assenagon Asset Management S.A. increased its position in shares of Q2 by 1,043.1% during the first quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock worth $76,408,000 after acquiring an additional 871,437 shares during the period. Nuveen LLC purchased a new position in shares of Q2 during the first quarter worth approximately $51,960,000. Ameriprise Financial Inc. increased its position in shares of Q2 by 105.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock worth $101,937,000 after acquiring an additional 520,649 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $137,948,000 after acquiring an additional 378,394 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Q2 by 1,909.2% during the fourth quarter. Tidal Investments LLC now owns 213,899 shares of the technology company's stock worth $21,529,000 after acquiring an additional 203,253 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on QTWO shares. Robert W. Baird raised 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. Zacks Research raised shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald began coverage on shares of Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Morgan Stanley lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Q2 presently has an average rating of "Moderate Buy" and an average price target of $102.25.

Insider Buying and Selling at Q2

In other Q2 news, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the sale, the insider directly owned 149,643 shares in the company, valued at $11,263,628.61. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 786 shares of the firm's stock in a transaction that occurred 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 owned 17,792 shares of the company's stock, valued at approximately $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. Insiders sold a total of 9,485 shares of company stock worth $750,307 over the last three months. Corporate insiders own 0.31% of the company's stock.

Q2 Stock Up 1.9%

Shares of QTWO stock opened at $78.17 on Thursday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 1,563.61 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 is $85.48 and its 200 day moving average is $83.85.

Q2 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.

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