Perpetual Ltd Cuts Stock Holdings 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 lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 19.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 633,308 shares of the technology company's stock after selling 154,328 shares during the quarter. Perpetual Ltd owned approximately 1.02% of Q2 worth $59,271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QTWO. Rhumbline Advisers boosted its position in Q2 by 6.9% during the 1st quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock valued at $6,987,000 after buying an additional 5,672 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Q2 during the fourth quarter worth about $140,000. SG Americas Securities LLC boosted its holdings in shares of Q2 by 377.9% during the first quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock worth $977,000 after purchasing an additional 9,658 shares during the period. Strs Ohio purchased a new stake in shares of Q2 during the first quarter worth about $4,329,000. Finally, Asset Management One Co. Ltd. lifted its holdings in Q2 by 31.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company's stock worth $196,000 after buying an additional 578 shares during the period.

Q2 Stock Up 1.6%

NYSE QTWO opened at $84.29 on Friday. Q2 Holdings, Inc. has a 52 week low of $63.61 and a 52 week high of $112.82. The firm has a market capitalization of $5.26 billion, a P/E ratio of 1,686.14 and a beta of 1.49. The company has a 50-day moving average price of $81.65 and a 200-day moving average price of $82.91.

Wall Street Analyst Weigh In

QTWO has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their price target on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Needham & Company LLC raised their target price on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen cut shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $102.25.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 967 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the sale, the general counsel directly owned 56,228 shares in the company, valued at $4,644,432.80. This represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John E. Breeden sold 6,105 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the sale, the insider owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,499 shares of company stock worth $650,658 in the last three months. Corporate insiders own 0.31% of the company's stock.

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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