Oak Ridge Investments LLC Has $2.73 Million Holdings in Q2 Holdings, Inc. $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 trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,089 shares of the technology company's stock after selling 34,155 shares during the quarter. Oak Ridge Investments LLC owned 0.05% of Q2 worth $2,727,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director James Offerdahl sold 786 shares of the firm's 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 of the company's stock, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,380 shares of company stock valued at $378,554. Insiders own 0.31% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on QTWO shares. Raymond James Financial cut their target price on Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. JPMorgan Chase & Co. began coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $101.06.

Q2 Stock Performance

Shares of QTWO stock traded down $0.9710 on Tuesday, hitting $74.7390. The company had a trading volume of 193,883 shares, compared to its average volume of 708,339. The firm has a market cap of $4.67 billion, a P/E ratio of 1,495.40 and a beta of 1.47. The stock's 50-day moving average is $87.04 and its two-hundred day moving average is $84.57. Q2 Holdings, Inc. has a twelve month low of $63.61 and a twelve month high of $112.82.

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.