Q2 Holdings, Inc. $QTWO Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Q2 Holdings, Inc. by 6.9%, now owning approximately 87,324 shares valued at around $6.99 million.
• Q2 Holdings has attracted interest from several institutional investors, with Versant Capital Management and WPG Advisers among those acquiring new stakes during the first quarter.
• Equity analysts have boosted their price targets for Q2 Holdings, with a consensus rating of "Moderate Buy" and an average target price of $102.25.

Rhumbline Advisers grew 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 13F filing with the SEC. The institutional investor owned 87,324 shares of the technology company's stock after buying an additional 5,672 shares during the quarter. Rhumbline Advisers owned 0.14% of Q2 worth $6,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG raised its position in shares of 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 valued at $1,335,000 after buying an additional 188 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Q2 by 35.0% during the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company's stock valued at $68,000 after buying an additional 220 shares in the last quarter. Xponance Inc. raised its position in shares of Q2 by 5.1% during the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock valued at $366,000 after buying an additional 224 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Q2 by 0.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock worth $3,426,000 after purchasing an additional 248 shares during the period. Finally, Summit Global Investments raised its position in Q2 by 2.6% in the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock worth $792,000 after purchasing an additional 255 shares during the period.

Q2 Stock Down 0.6%

Shares of QTWO traded down $0.49 during trading hours on Friday, reaching $82.23. 890,214 shares of the company traded hands, compared to its average volume of 922,523. The company's fifty day moving average price is $82.51 and its two-hundred day moving average price is $82.95. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 1,644.93 and a beta of 1.49. Q2 Holdings, Inc. has a 12 month low of $63.61 and a 12 month high of $112.82.

Insider Transactions at Q2

In other Q2 news, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the transaction, the insider directly owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Offerdahl sold 786 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the sale, the director directly owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QTWO. Stifel Nicolaus lifted their target price on shares of Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Needham & Company LLC boosted their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.25.

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.