Q2 Holdings, Inc. (NYSE:QTWO) Shares Bought by Perpetual Ltd

Perpetual Ltd lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 787,636 shares of the technology company's stock after purchasing an additional 35,660 shares during the period. Perpetual Ltd owned 1.30% of Q2 worth $63,019,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its holdings in Q2 by 1.1% in the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock valued at $1,761,000 after acquiring an additional 190 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Q2 by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after purchasing an additional 195 shares during the period. Moran Wealth Management LLC raised its position in Q2 by 2.7% in the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock valued at $817,000 after purchasing an additional 215 shares during the period. Summit Global Investments raised its position in Q2 by 2.6% in the first quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after purchasing an additional 255 shares during the period. Finally, NewEdge Advisors LLC raised its position in Q2 by 269.6% in 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 Stock Down 0.6%

Shares of QTWO stock traded down $0.54 on Monday, reaching $93.45. 612,967 shares of the stock were exchanged, compared to its average volume of 644,347. 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 business's 50 day moving average price is $87.24 and its 200 day moving average price is $87.75. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -267.00 and a beta of 1.48. Q2 Holdings, Inc. has a twelve month low of $59.51 and a twelve month high of $112.82.

Analysts Set New Price Targets

QTWO has been the topic of a number of research analyst reports. Compass Point reissued a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research report on Monday, April 7th. Morgan Stanley boosted their target price on Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Needham & Company LLC cut their target price on Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald initiated coverage on Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.41.

Insider Activity

In related news, CRO Michael A. Volanoski sold 1,428 shares of the business'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 completion of the transaction, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Michael S. Kerr sold 397 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the transaction, the general counsel owned 58,441 shares of the company's stock, valued at approximately $5,429,168.90. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,014 shares of company stock worth $3,251,601. 3.00% 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.