Price T Rowe Associates Inc. MD Sells 58,007 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Q2 Holdings, Inc. by 7.7%, now holding approximately 1.12% of the company worth $55.62 million.
• Insider transactions included John E. Breeden selling 6,105 shares at an average price of $75.27, leading to a 3.92% decrease in his shares.
• Wall Street analysts have a consensus target price of $102.25 for Q2 Holdings, with several upgrade ratings, indicating a strong interest in the stock's potential growth.

Price T Rowe Associates Inc. MD lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 695,099 shares of the technology company's stock after selling 58,007 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.12% of Q2 worth $55,616,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mariner LLC lifted its stake in Q2 by 36.2% during the fourth quarter. Mariner LLC now owns 3,644 shares of the technology company's stock valued at $367,000 after purchasing an additional 968 shares during the last quarter. NewEdge Advisors LLC lifted its stake in 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 last quarter. Hsbc Holdings PLC lifted its stake in Q2 by 7.1% during the fourth quarter. Hsbc Holdings PLC now owns 9,216 shares of the technology company's stock valued at $929,000 after purchasing an additional 614 shares during the last quarter. Northern Trust Corp lifted its stake in Q2 by 6.8% during the fourth quarter. Northern Trust Corp now owns 611,358 shares of the technology company's stock valued at $61,533,000 after purchasing an additional 38,931 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Q2 by 4.8% during the fourth quarter. AQR Capital Management LLC now owns 62,246 shares of the technology company's stock valued at $6,265,000 after purchasing an additional 2,825 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Needham & Company LLC increased their target price on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Robert W. Baird lifted their target price on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Raymond James Financial dropped their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Zacks Research raised shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Q2 has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the completion of the sale, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company's stock, valued at $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,485 shares of company stock valued at $750,307 over the last three months. 3.00% of the stock is owned by corporate insiders.

Q2 Stock Performance

Shares of NYSE QTWO traded up $0.01 during mid-day trading on Monday, reaching $78.84. The company had a trading volume of 727,684 shares, compared to its average volume of 980,668. The stock has a fifty day moving average of $84.80 and a two-hundred day moving average of $83.45. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 1,577.02 and a beta of 1.49. 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.