TimesSquare Capital Management LLC Sells 21,665 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

TimesSquare Capital Management LLC lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 354,035 shares of the technology company's stock after selling 21,665 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.57% of Q2 worth $28,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Q2 during the 4th quarter valued at $202,645,000. Assenagon Asset Management S.A. increased its position 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 acquiring an additional 871,437 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after acquiring an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Q2 by 732.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company's stock worth $75,025,000 after purchasing an additional 655,838 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock worth $101,937,000 after purchasing an additional 520,649 shares during the last quarter.

Q2 Stock Up 1.3%

NYSE:QTWO traded up $1.20 during trading hours on Monday, reaching $90.39. 513,478 shares of the company traded hands, compared to its average volume of 677,873. Q2 Holdings, Inc. has a 1 year low of $61.51 and a 1 year high of $112.82. The stock has a market capitalization of $5.63 billion, a P/E ratio of -258.25 and a beta of 1.48. The business's 50-day moving average price is $89.76 and its two-hundred day moving average price is $87.02. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QTWO. Compass Point reaffirmed a "neutral" rating and set a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Robert W. Baird upped their target price on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. initiated coverage on shares of Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price objective for the company. Finally, The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.41.

Insider Activity at Q2

In other news, General Counsel Michael S. Kerr sold 397 shares of the company'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 directly owned 58,441 shares of the company's stock, valued at $5,429,168.90. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the sale, the director owned 16,241 shares of the company's stock, valued at $1,425,472.57. The trade was a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,991 shares of company stock valued at $357,153 over the last 90 days. Corporate insiders own 3.00% 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.