Q2 Holdings, Inc. $QTWO Shares Bought by Next Century Growth Investors LLC

Key Points

• Next Century Growth Investors LLC increased its holdings in Q2 Holdings, Inc. by 7.7%, bringing its total to 224,703 shares valued at approximately $17.98 million.
• Several institutional investors, including Truvestments Capital LLC and Comerica Bank, have significantly modified their stakes in Q2, demonstrating growing institutional interest in the company.
• Analysts have mixed ratings for Q2, with a consensus rating of **Moderate Buy** and an average target price of **$102.25**, indicating bullish sentiment overall.

Next Century Growth Investors LLC grew its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,703 shares of the technology company's stock after buying an additional 16,035 shares during the period. Q2 accounts for approximately 1.6% of Next Century Growth Investors LLC's investment portfolio, making the stock its 18th largest position. Next Century Growth Investors LLC owned 0.36% of Q2 worth $17,978,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC grew its stake in shares of Q2 by 428.1% in the 1st quarter. Truvestments Capital LLC now owns 9,939 shares of the technology company's stock valued at $795,000 after buying an additional 8,057 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its holdings in Q2 by 1.1% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 16,687 shares of the technology company's stock worth $1,335,000 after buying an additional 188 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Q2 in the 1st quarter valued at $321,000. Comerica Bank raised its holdings in shares of Q2 by 15.6% in the 1st quarter. Comerica Bank now owns 172,142 shares of the technology company's stock valued at $13,773,000 after purchasing an additional 23,261 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Q2 by 111.9% in the 1st quarter. Synovus Financial Corp now owns 24,614 shares of the technology company's stock valued at $1,969,000 after purchasing an additional 13,000 shares in the last quarter.

Q2 Stock Performance

Q2 stock traded down $2.47 during midday trading on Tuesday, hitting $76.26. 147,932 shares of the company's stock were exchanged, compared to its average volume of 710,065. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 1,520.80 and a beta of 1.49. The firm's 50 day simple moving average is $84.80 and its 200 day simple moving average is $83.45. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82.

Analysts Set New Price Targets

Several brokerages recently commented on QTWO. Raymond James Financial cut their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC lifted their price target on shares of Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Royal Bank Of Canada lifted their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Insider Activity

In related news, Director James Offerdahl sold 786 shares of the company'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 value of $58,281.90. Following the sale, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the company'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 completion of the sale, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,485 shares of company stock valued at $750,307 over the last quarter. Corporate insiders own 3.00% of the company's stock.

About Q2

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.