Rhumbline Advisers Has $6.99 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

Rhumbline Advisers raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,324 shares of the technology company's stock after buying an additional 5,672 shares during the period. Rhumbline Advisers owned 0.14% of Q2 worth $6,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QTWO. TCTC Holdings LLC bought a new stake in shares of Q2 during the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in Q2 during the 4th quarter worth $30,000. NewEdge Advisors LLC boosted its holdings in Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after acquiring an additional 275 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Q2 in the first quarter valued at about $33,000. Finally, Transce3nd LLC bought a new position in shares of Q2 in the fourth quarter worth about $98,000.

Insider Activity

In related news, CEO Matthew P. Flake sold 36,023 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the completion of the sale, the chief executive officer now owns 485,666 shares in the company, valued at approximately $39,023,263.10. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the transaction, the general counsel now owns 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,586 shares of company stock valued at $3,124,681 over the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QTWO. Raymond James cut their price objective on Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Stephens reiterated an "overweight" rating and set a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Royal Bank of Canada cut their target price on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Finally, Compass Point restated a "neutral" rating and issued a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.50.

Q2 Price Performance

Shares of NYSE:QTWO traded down $0.75 during midday trading on Thursday, reaching $88.35. The company's stock had a trading volume of 311,428 shares, compared to its average volume of 643,127. The business's fifty day simple moving average is $82.81 and its 200-day simple moving average is $89.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 Holdings, Inc. has a fifty-two week low of $55.97 and a fifty-two week high of $112.82. The company has a market capitalization of $5.50 billion, a P/E ratio of -135.92 and a beta of 1.48.

Q2 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.