Premier Fund Managers Ltd Sells 3,175 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Premier Fund Managers Ltd trimmed its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 30.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,354 shares of the technology company's stock after selling 3,175 shares during the period. Premier Fund Managers Ltd's holdings in Q2 were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in shares of Q2 by 5.4% in the first quarter. Federated Hermes Inc. now owns 746,938 shares of the technology company's stock worth $59,763,000 after purchasing an additional 38,315 shares in the last quarter. TCTC Holdings LLC lifted its stake in Q2 by 103.1% during the first quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after purchasing an additional 303 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Q2 by 16.3% during the first quarter. Mackenzie Financial Corp now owns 4,350 shares of the technology company's stock worth $348,000 after buying an additional 610 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in shares of Q2 by 12.2% in the first quarter. Summit Creek Advisors LLC now owns 221,192 shares of the technology company's stock valued at $17,698,000 after buying an additional 24,038 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Q2 by 1.4% during the 1st quarter. LPL Financial LLC now owns 25,933 shares of the technology company's stock valued at $2,075,000 after acquiring an additional 364 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 target price on the stock. Needham & Company LLC upped their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday. Cantor Fitzgerald initiated coverage on shares of Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price objective for the company. Finally, Robert W. Baird boosted their target price on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.06.

Q2 Stock Performance

Q2 stock traded down $4.68 during midday trading on Friday, hitting $76.52. The company's stock had a trading volume of 1,368,285 shares, compared to its average volume of 676,694. The company has a 50-day moving average price of $90.18 and a two-hundred day moving average price of $86.29. Q2 Holdings, Inc. has a 1-year low of $61.51 and a 1-year high of $112.82. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 1,530.71 and a beta of 1.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43.

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 397 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the director directly owned 16,241 shares of the company's stock, valued at approximately $1,425,472.57. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,991 shares of company stock worth $357,153 over the last three months. Insiders own 0.31% of the company's stock.

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.