Nuveen LLC Invests $51.96 Million in Q2 Holdings, Inc. (NYSE: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 purchased a new position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 649,423 shares of the technology company's stock, valued at approximately $51,960,000. Nuveen LLC owned approximately 1.04% of Q2 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of QTWO. Versant Capital Management Inc purchased a new stake in Q2 in the 1st quarter worth about $33,000. NewEdge Advisors LLC grew its stake in Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after acquiring an additional 275 shares in the last quarter. Larson Financial Group LLC grew its stake in Q2 by 2,630.0% in the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after acquiring an additional 526 shares in the last quarter. TCTC Holdings LLC grew its stake in Q2 by 103.1% in the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after acquiring an additional 303 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of Q2 during the fourth quarter valued at approximately $98,000.

Q2 Stock Down 0.3%

NYSE QTWO traded down $0.25 on Friday, hitting $74.55. 737,583 shares of the stock were exchanged, compared to its average volume of 955,870. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82. The company has a market cap of $4.65 billion, a PE ratio of 1,491.30 and a beta of 1.47. The company has a 50-day moving average price of $87.35 and a 200-day moving average price of $84.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Q2 in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective on the stock. Needham & Company LLC raised their target price on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Royal Bank Of Canada raised their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. started coverage on shares of Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.06.

Insider Activity at Q2

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