Strs Ohio Makes New $4.33 Million Investment in Q2 Holdings, Inc. $QTWO

Key Points

• Strs Ohio invested $4.33 million in Q2 Holdings, Inc., purchasing 54,100 shares of stock in the first quarter.
• Q2 Holdings has seen interest from other hedge funds, with several new positions and significant increases in holdings reported during the first quarter.
• JPMorgan Chase & Co. rated Q2 as "overweight" with a target price of $115.00, while Zacks Research upgraded it to a "strong-buy" rating.

Strs Ohio purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,100 shares of the technology company's stock, valued at approximately $4,329,000. Strs Ohio owned 0.09% of Q2 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc acquired a new position in Q2 in the 1st quarter valued at $33,000. WPG Advisers LLC acquired a new position in shares of Q2 during the 1st quarter worth $35,000. Larson Financial Group LLC raised its holdings in shares of Q2 by 2,630.0% during the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after buying an additional 526 shares in the last quarter. TCTC Holdings LLC increased its holdings in Q2 by 103.1% in the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after purchasing an additional 303 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in Q2 in the 1st quarter worth about $58,000.

Q2 Trading Down 0.6%

Shares of QTWO opened at $82.23 on Monday. The firm has a market cap of $5.13 billion, a PE ratio of 1,644.93 and a beta of 1.49. Q2 Holdings, Inc. has a 1-year low of $63.61 and a 1-year high of $112.82. The firm has a fifty day simple moving average of $82.51 and a two-hundred day simple moving average of $82.95.

Insiders Place Their Bets

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

Analyst Ratings Changes

QTWO has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 target price for the company. Zacks Research upgraded Q2 to a "strong-buy" rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price target on 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 upped their price target on Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.

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