Oak Ridge Investments LLC Sells 34,155 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Key Points

• Oak Ridge Investments LLC reduced its stake in Q2 Holdings, Inc. by 50%, now owning approximately 0.05% of the company valued at $2.7 million.
• Several institutional investors increased their positions, with Massachusetts Financial Services Co. raising its stake by 28.1%, now holding nearly 1.7 million shares worth $137.9 million.
• Wall Street analysts have mixed forecasts for Q2 Holdings, with a consensus rating of "Moderate Buy" and a price target averaging $101.06.

Oak Ridge Investments LLC cut its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 50.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,089 shares of the technology company's stock after selling 34,155 shares during the period. Oak Ridge Investments LLC owned approximately 0.05% of Q2 worth $2,727,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of QTWO. Russell Investments Group Ltd. increased its holdings in Q2 by 32.4% during the 1st quarter. Russell Investments Group Ltd. now owns 44,347 shares of the technology company's stock worth $3,548,000 after purchasing an additional 10,858 shares during the period. Nuveen LLC purchased a new stake in shares of Q2 in the 1st quarter valued at approximately $51,960,000. Aigen Investment Management LP purchased a new stake in shares of Q2 in the 1st quarter valued at approximately $211,000. Invesco Ltd. increased its position in shares of Q2 by 2.3% in the 1st quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after purchasing an additional 60,958 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in shares of Q2 by 20.8% in the 1st quarter. Townsquare Capital LLC now owns 3,482 shares of the technology company's stock valued at $279,000 after purchasing an additional 600 shares during the last quarter.

Q2 Price Performance

Shares of QTWO stock traded down $0.25 during trading hours on Friday, reaching $74.55. The stock had a trading volume of 737,583 shares, compared to its average volume of 955,870. Q2 Holdings, Inc. has a twelve month low of $63.61 and a twelve month high of $112.82. The firm has a 50-day simple moving average of $87.35 and a 200-day simple moving average of $84.79. The firm has a market capitalization of $4.65 billion, a PE ratio of 1,491.30 and a beta of 1.47.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price objective on the stock. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Raymond James Financial dropped their price objective 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. Stifel Nicolaus increased their price objective 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. Finally, Morgan Stanley increased their target price on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.06.

Insider Activity

In other Q2 news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the transaction, the director owned 16,241 shares of the company's stock, valued at approximately $1,425,472.57. This trade represents a 5.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the transaction, the executive owned 175,812 shares of the company's stock, 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. In the last three months, insiders have sold 4,380 shares of company stock worth $378,554. 0.31% of the stock is owned by corporate insiders.

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.