Peregrine Capital Management LLC Invests $7.78 Million in Q2 Holdings, Inc. (NYSE:QTWO)

Peregrine Capital Management LLC acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 97,219 shares of the technology company's stock, valued at approximately $7,778,000. Peregrine Capital Management LLC owned about 0.16% of Q2 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in Q2 in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Q2 during the fourth quarter worth $30,000. TCTC Holdings LLC acquired a new position in shares of Q2 in the 4th quarter valued at about $30,000. Versant Capital Management Inc bought a new stake in shares of Q2 in the 1st quarter valued at $33,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after purchasing an additional 275 shares during the period.

Q2 Price Performance

Shares of QTWO traded up $0.39 during trading hours on Thursday, reaching $92.69. 248,849 shares of the company's stock traded hands, compared to its average volume of 642,921. 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's 50 day simple moving average is $87.89 and its 200-day simple moving average is $87.81. The stock has a market cap of $5.77 billion, a PE ratio of -264.81 and a beta of 1.48. Q2 Holdings, Inc. has a 12 month low of $60.00 and a 12 month high of $112.82.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Compass Point reiterated a "neutral" rating and set a $60.00 price target on shares of Q2 in a report on Monday, April 7th. JPMorgan Chase & Co. started coverage on shares of Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 target price for the company. Raymond James Financial lowered their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen cut Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.41.

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction 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 sale, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owned 16,241 shares in the company, valued at $1,425,472.57. The trade was a 5.80% 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 worth $357,153 over the last three months. 0.31% of the stock is owned by insiders.

Q2 Company 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.