Raymond James Financial Inc. Sells 3,556 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Raymond James Financial Inc. reduced its stake in Q2 Holdings, Inc. by 2.0%, selling 3,556 shares during the last quarter, while continuing to hold 177,978 shares valued at about $14.24 million.
• Multiple institutional investors have altered their positions in Q2 Holdings, with notable increases from firms such as Larson Financial Group LLC, which boosted its holdings by 2,630.0% in the 1st quarter.
• Analysts have mixed ratings on Q2, with a current average rating of "Moderate Buy" and an average target price of $102.25, following various adjustments from several firms, including a price objective increase by Needham & Company LLC to $115.00.

Raymond James Financial Inc. cut its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,978 shares of the technology company's stock after selling 3,556 shares during the period. Raymond James Financial Inc. owned approximately 0.29% of Q2 worth $14,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in QTWO. NewEdge Advisors LLC boosted its stake in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after purchasing an additional 275 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Q2 during the 1st quarter valued at approximately $33,000. Larson Financial Group LLC lifted its stake in Q2 by 2,630.0% in the first quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock valued at $44,000 after purchasing an additional 526 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after buying an additional 303 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Q2 during the 4th quarter worth $140,000.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the completion of the sale, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Offerdahl sold 786 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,485 shares of company stock worth $750,307. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QTWO. Stifel Nicolaus boosted their target price on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Cantor Fitzgerald started coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. Raymond James Financial cut their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Robert W. Baird boosted their price target on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada increased their target price on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.25.

Q2 Trading Down 2.4%

QTWO stock traded down $1.87 on Tuesday, hitting $76.86. The company had a trading volume of 224,341 shares, compared to its average volume of 710,456. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82. The stock's 50-day simple moving average is $84.80 and its 200 day simple moving average is $83.45. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 1,536.97 and a beta of 1.49.

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.