Rhumbline Advisers Has $6.99 Million Stock Position in Q2 Holdings, Inc. $QTWO

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 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 filing with the SEC. The firm owned 87,324 shares of the technology company's stock after purchasing an additional 5,672 shares during the quarter. Rhumbline Advisers owned 0.14% of Q2 worth $6,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QTWO. Deutsche Bank AG increased its stake in Q2 by 47.5% in the fourth quarter. Deutsche Bank AG now owns 57,009 shares of the technology company's stock valued at $5,738,000 after acquiring an additional 18,346 shares during the period. Ensign Peak Advisors Inc increased its stake in Q2 by 6.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 31,213 shares of the technology company's stock valued at $3,142,000 after acquiring an additional 1,845 shares during the period. Gotham Asset Management LLC increased its stake in Q2 by 16.0% in the fourth quarter. Gotham Asset Management LLC now owns 39,277 shares of the technology company's stock valued at $3,953,000 after acquiring an additional 5,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Q2 by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,508 shares of the technology company's stock valued at $3,373,000 after buying an additional 1,316 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its position in Q2 by 48.8% in the fourth quarter. Nomura Holdings Inc. now owns 129,888 shares of the technology company's stock valued at $13,073,000 after buying an additional 42,570 shares in the last quarter.

Insider Buying and Selling at Q2

In other Q2 news, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the transaction, the insider directly owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 967 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $82.60, for a total transaction of $79,874.20. Following the completion of the transaction, the general counsel directly owned 56,228 shares in the company, valued at approximately $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,499 shares of company stock valued at $650,658. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target 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. Stifel Nicolaus boosted their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Wall Street Zen lowered shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.25.

Q2 Stock Up 2.4%

QTWO stock traded up $1.99 during midday trading on Wednesday, reaching $83.53. The company's stock had a trading volume of 281,739 shares, compared to its average volume of 738,403. Q2 Holdings, Inc. has a 52 week low of $63.61 and a 52 week high of $112.82. The stock has a market cap of $5.22 billion, a PE ratio of 1,670.83 and a beta of 1.49. The business's 50-day simple moving average is $82.06 and its 200-day simple moving average is $82.91.

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.