SteelPeak Wealth LLC Buys New Position in Q2 Holdings, Inc. $QTWO

Key Points

• SteelPeak Wealth LLC acquired a new stake in Q2 Holdings, purchasing 7,170 shares valued at approximately $671,000 during the 2nd quarter.
• Q2 Holdings' stock has seen ratings changes, with nine analysts recommending a Buy and ten assigning a Hold rating, alongside a consensus target price of $101.94.
• Insider trading activity included sales of stock by key company insiders, with a total of 8,499 shares sold worth $650,658 in the last 90 days.

SteelPeak Wealth LLC bought a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 7,170 shares of the technology company's stock, valued at approximately $671,000.

Several other hedge funds have also modified their holdings of QTWO. Dakota Wealth Management grew its stake in Q2 by 3.8% during the 2nd quarter. Dakota Wealth Management now owns 3,350 shares of the technology company's stock valued at $314,000 after purchasing an additional 123 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in 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 purchasing an additional 188 shares in the last quarter. Advisors Asset Management Inc. grew its stake in 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 purchasing an additional 220 shares in the last quarter. Xponance Inc. grew its stake in 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 purchasing an additional 224 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Q2 by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock valued at $3,426,000 after purchasing an additional 248 shares in the last quarter.

Q2 Price Performance

NYSE:QTWO opened at $64.32 on Thursday. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82. The firm has a market capitalization of $4.02 billion, a P/E ratio of 1,286.66 and a beta of 1.47. The business has a 50 day simple moving average of $76.40 and a 200 day simple moving average of $82.40.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QTWO shares. Wall Street Zen lowered Q2 from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Q2 in a research report on Wednesday. Zacks Research lowered Q2 from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Needham & Company LLC lifted their target price on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their target price on Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $101.94.

Insider Activity at Q2

In related news, insider John E. Breeden sold 6,105 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares in the company, valued at $11,263,628.61. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 967 shares of the business'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 value of $79,874.20. Following the transaction, the general counsel owned 56,228 shares of the company's stock, valued at $4,644,432.80. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,499 shares of company stock worth $650,658 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

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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