Sheets Smith Wealth Management Makes New $511,000 Investment in Q2 Holdings, Inc. $QTWO

Key Points

• Sheets Smith Wealth Management invested approximately $511,000 in 5,458 shares of Q2 Holdings, Inc. (NYSE:QTWO) during the second quarter, as per their latest 13F filing.
• Several large investors are increasing their stakes in Q2 Holdings, with Massachusetts Financial Services growing its position by 28.1% in the first quarter.
• Analysts show mixed opinions on Q2's stock, with target prices ranging from $101.00 to $110.00, while the stock currently has a consensus rating of "Moderate Buy."

Sheets Smith Wealth Management acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,458 shares of the technology company's stock, valued at approximately $511,000.

Several other large investors have also recently added to or reduced their stakes in QTWO. Invesco Ltd. grew its holdings in shares of Q2 by 2.3% during the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock worth $214,045,000 after purchasing an additional 60,958 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in Q2 by 1.6% during the first quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock valued at $156,651,000 after buying an additional 30,480 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock valued at $137,948,000 after purchasing an additional 378,394 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Q2 by 3.3% during the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock valued at $104,155,000 after purchasing an additional 41,412 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Q2 by 1,043.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock worth $76,408,000 after purchasing an additional 871,437 shares during the last quarter.

Wall Street Analyst Weigh In

QTWO has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Q2 from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank Of Canada increased their price target on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Cantor Fitzgerald began coverage on Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 price objective on the stock. Stifel Nicolaus raised their price objective on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.94.

Q2 Stock Down 3.8%

Shares of NYSE:QTWO opened at $73.82 on Thursday. 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 $4.61 billion, a price-to-earnings ratio of 1,476.78 and a beta of 1.49. The business has a 50-day moving average price of $80.63 and a 200-day moving average price of $82.87.

Insider Transactions at Q2

In related news, General Counsel Michael S. Kerr sold 967 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the transaction, the general counsel directly owned 56,228 shares of the company's stock, valued at $4,644,432.80. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John E. Breeden sold 6,105 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the transaction, the insider directly owned 149,643 shares of the company's stock, valued at $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,499 shares of company stock worth $650,658 in the last quarter. 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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