Q2 Holdings, Inc. (NYSE:QTWO) Shares Acquired by Homestead Advisers Corp

Homestead Advisers Corp grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,300 shares of the technology company's stock after purchasing an additional 8,300 shares during the quarter. Homestead Advisers Corp owned approximately 0.10% of Q2 worth $4,985,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of QTWO. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Q2 during the 1st quarter worth approximately $2,864,000. Y Intercept Hong Kong Ltd bought a new position in Q2 during the 1st quarter worth approximately $216,000. Allianz Asset Management GmbH bought a new position in Q2 during the 1st quarter worth approximately $10,397,000. Jennison Associates LLC grew its position in Q2 by 3.3% during the 1st quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock worth $104,155,000 after acquiring an additional 41,412 shares during the last quarter. Finally, LMG Wealth Partners LLC grew its position in Q2 by 17.1% during the 1st quarter. LMG Wealth Partners LLC now owns 16,712 shares of the technology company's stock worth $1,337,000 after acquiring an additional 2,440 shares during the last quarter.

Q2 Stock Performance

Shares of NYSE QTWO traded down $0.17 during trading on Friday, reaching $89.24. 111,828 shares of the company traded hands, compared to its average volume of 657,923. The firm's fifty day simple moving average is $90.26 and its 200 day simple moving average is $86.54. The stock has a market cap of $5.56 billion, a P/E ratio of -254.97 and a beta of 1.48. Q2 Holdings, Inc. has a 12-month low of $61.51 and a 12-month high of $112.82. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

Insider Activity

In related news, 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 sale, the director directly owned 16,241 shares in the company, valued at approximately $1,425,472.57. The trade was a 5.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total value of $126,920.64. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 3,991 shares of company stock worth $357,153 in the last ninety days. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QTWO. Wall Street Zen cut Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 8th. Morgan Stanley increased their price objective on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. began coverage on Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Q2 currently has an average rating of "Moderate Buy" and an average target price of $100.41.

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.