Royal Bank of Canada Has $62.72 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

Royal Bank of Canada lifted its holdings in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 623,139 shares of the technology company's stock after buying an additional 91,820 shares during the period. Royal Bank of Canada owned about 1.03% of Q2 worth $62,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in shares of Q2 in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in Q2 during the fourth quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new stake in Q2 in the 4th quarter worth approximately $30,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Q2 during the 4th quarter valued at $32,000. Finally, NewEdge Advisors LLC grew its holdings in shares of 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 acquiring an additional 275 shares in the last quarter.

Analysts Set New Price Targets

QTWO has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Robert W. Baird lifted their price target on Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their price target on Q2 from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reduced their price target on Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.80.

Q2 Stock Down 0.1%

Shares of QTWO stock opened at $89.91 on Wednesday. Q2 Holdings, Inc. has a 12 month low of $55.97 and a 12 month high of $112.82. The firm has a market cap of $5.60 billion, a PE ratio of -138.32 and a beta of 1.47. The stock has a 50 day moving average of $79.49 and a 200-day moving average of $90.51. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Insider Activity

In other news, General Counsel Michael S. Kerr sold 397 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total transaction of $36,881.30. Following the sale, the general counsel now directly owns 58,441 shares in the company, valued at approximately $5,429,168.90. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the sale, the chief executive officer now owns 453,849 shares in the company, valued at approximately $35,527,299.72. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,255 shares of company stock worth $14,890,846. Company insiders own 0.31% of the company's stock.

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.

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