Q2 Holdings, Inc. (NYSE:QTWO) Shares Acquired by Rhumbline Advisers

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in Q2 during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Q2 in the 4th quarter worth approximately $30,000. NewEdge Advisors LLC grew its holdings in shares of Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $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 1st quarter worth approximately $33,000. Finally, Transce3nd LLC acquired a new stake in shares of Q2 in the 4th quarter worth approximately $98,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on QTWO. Robert W. Baird upped their price target on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. Compass Point reaffirmed a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Royal Bank of Canada reduced their target price on Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC reduced their target price on Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.50.

Insider Activity at Q2

In other news, CEO Matthew P. Flake sold 36,023 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the completion of the sale, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the transaction, the director now owns 16,241 shares of the company's stock, valued at $1,425,472.57. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,014 shares of company stock worth $3,251,601. Corporate insiders own 0.31% of the company's stock.

Q2 Trading Down 3.2%

Shares of QTWO traded down $2.85 during trading hours on Friday, hitting $85.62. The stock had a trading volume of 510,590 shares, compared to its average volume of 644,175. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $5.33 billion, a P/E ratio of -131.73 and a beta of 1.48. The company's fifty day simple moving average is $83.54 and its 200 day simple moving average is $89.20. Q2 Holdings, Inc. has a 12-month low of $55.97 and a 12-month high of $112.82.

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.