Nuveen LLC Buys Shares of 649,423 Q2 Holdings, Inc. $QTWO

Key Points

• Nuveen LLC has acquired a stake of 649,423 shares in Q2 Holdings, Inc., valued at approximately $51.96 million, representing 1.04% ownership as of the latest SEC filing.
• Analysts have set new price targets for Q2 Holdings, with Needham & Company raising their target from $110 to $115 and maintaining a "buy" rating.
• Insiders have sold a total of 4,380 shares of Q2 stock over the past three months, indicating some profit-taking among executives.

Nuveen LLC acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 649,423 shares of the technology company's stock, valued at approximately $51,960,000. Nuveen LLC owned 1.04% of Q2 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its position in Q2 by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock worth $620,000 after purchasing an additional 195 shares during the period. Xponance Inc. raised its position in Q2 by 5.1% in the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock worth $366,000 after purchasing an additional 224 shares during the period. Mutual of America Capital Management LLC raised its position in Q2 by 0.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock worth $3,426,000 after purchasing an additional 248 shares during the period. Summit Global Investments raised its position in Q2 by 2.6% in the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock worth $792,000 after purchasing an additional 255 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Q2 by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,861 shares of the technology company's stock worth $229,000 after purchasing an additional 259 shares during the period.

Wall Street Analysts Forecast Growth

QTWO has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their target price on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Morgan Stanley upped their target price on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird upped their target price on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Q2 presently has an average rating of "Moderate Buy" and a consensus target price of $101.06.

Insider Buying and Selling

In other news, Director James Offerdahl sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 16,241 shares in the company, valued at approximately $1,425,472.57. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the transaction, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,380 shares of company stock worth $378,554. Insiders own 0.31% of the company's stock.

Q2 Stock Down 0.8%

Shares of NYSE QTWO traded down $0.6050 during midday trading on Tuesday, reaching $75.1050. 102,779 shares of the company's stock traded hands, compared to its average volume of 707,856. The stock's 50 day simple moving average is $87.04 and its 200-day simple moving average is $84.57. Q2 Holdings, Inc. has a one year low of $63.61 and a one year high of $112.82. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 1,502.40 and a beta of 1.47.

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.