Entropy Technologies LP lessened its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 65.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,957 shares of the technology company's stock after selling 5,704 shares during the period. Entropy Technologies LP's holdings in Q2 were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its holdings in Q2 by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock valued at $620,000 after acquiring an additional 195 shares during the last quarter. Xponance Inc. raised its holdings in Q2 by 5.1% in the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock valued at $366,000 after acquiring an additional 224 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Q2 by 0.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock valued at $3,426,000 after acquiring an additional 248 shares during the last quarter. Summit Global Investments raised its holdings in Q2 by 2.6% in the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after acquiring an additional 255 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Q2 by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,861 shares of the technology company's stock valued at $229,000 after acquiring an additional 259 shares during the last quarter.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on QTWO. Zacks Research raised shares of Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Needham & Company LLC increased their price objective on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. Finally, Robert W. Baird raised their price target on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Q2 has an average rating of "Moderate Buy" and a consensus target price of $101.06.
View Our Latest Analysis on QTWO
Insiders Place Their Bets
In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction 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 sale, the executive directly owned 175,812 shares in the company, valued at $15,626,170.56. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total transaction of $87,770.00. Following the completion of the sale, the director owned 16,241 shares in the company, valued at $1,425,472.57. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,380 shares of company stock worth $378,554 over the last quarter. 0.31% of the stock is currently owned by company insiders.
Q2 Stock Down 0.3%
Shares of QTWO stock traded down $0.25 during trading hours on Friday, reaching $74.55. 737,583 shares of the stock traded hands, compared to its average volume of 955,870. The firm has a market capitalization of $4.65 billion, a PE ratio of 1,491.30 and a beta of 1.47. The business has a fifty day moving average price of $87.35 and a 200 day moving average price of $84.79. Q2 Holdings, Inc. has a 1-year low of $63.61 and a 1-year high of $112.82.
About Q2
(
Free Report)
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.
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