Perpetual Ltd Decreases Stock Position in Q2 Holdings, Inc. $QTWO

Key Points

• Perpetual Ltd has reduced its stake in Q2 Holdings, Inc. by 19.6%, owning approximately 633,308 shares worth $59.27 million after selling 154,328 shares in the second quarter.
• Several institutional investors have also adjusted their positions in Q2, with SG Americas Securities LLC boosting its holdings by 377.9% in the first quarter.
• Q2 Holdings has an average stock rating of "Moderate Buy" with a consensus target price of $102.25, following recent upgrades from various analysts, including Needham & Company raising its target to $115.00.

Perpetual Ltd cut its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 19.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 633,308 shares of the technology company's stock after selling 154,328 shares during the quarter. Perpetual Ltd owned about 1.02% of Q2 worth $59,271,000 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 business. Invesco Ltd. raised its stake in Q2 by 2.3% in the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after buying an additional 60,958 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Q2 by 1.6% in the first quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock valued at $156,651,000 after purchasing an additional 30,480 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Q2 by 28.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock valued at $137,948,000 after purchasing an additional 378,394 shares during the period. Jennison Associates LLC increased its holdings in shares of Q2 by 3.3% in the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock valued at $104,155,000 after purchasing an additional 41,412 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Q2 by 1,043.1% in the first quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock valued at $76,408,000 after purchasing an additional 871,437 shares during the period.

Analyst Upgrades and Downgrades

QTWO has been the topic of a number of research reports. Needham & Company LLC increased their price objective on Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective on the stock. Royal Bank Of Canada lifted their price target on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their price objective on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen cut shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Q2 currently has an average rating of "Moderate Buy" and an average price target of $102.25.

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 967 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $82.60, for a total transaction of $79,874.20. Following the transaction, the general counsel owned 56,228 shares in the company, valued at approximately $4,644,432.80. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 786 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the transaction, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,499 shares of company stock worth $650,658. 3.00% of the stock is owned by corporate insiders.

Q2 Price Performance

QTWO stock traded down $1.03 during mid-day trading on Tuesday, reaching $77.78. 359,833 shares of the company's stock were exchanged, compared to its average volume of 823,569. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 1,553.53 and a beta of 1.49. The stock's 50 day moving average is $81.21 and its 200 day moving average is $82.97. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82.

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.