Q2 Holdings, Inc. (NYSE:QTWO) Shares Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC increased its stake in Q2 Holdings, Inc. by 12.2%, owning approximately 221,192 shares valued at $17.7 million as of the latest filing.
• Multiple institutional investors, including Homestead Advisers Corp and Cetera Investment Advisers, also boosted their holdings in Q2 during the first quarter.
• Brokerages have varied ratings for Q2, with a consensus target price of $100.41 and a mix of hold and buy recommendations from analysts.

Summit Creek Advisors LLC raised its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,192 shares of the technology company's stock after acquiring an additional 24,038 shares during the quarter. Q2 makes up about 2.6% of Summit Creek Advisors LLC's investment portfolio, making the stock its 16th largest holding. Summit Creek Advisors LLC owned 0.36% of Q2 worth $17,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Conestoga Capital Advisors LLC lifted its stake in Q2 by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock valued at $156,651,000 after purchasing an additional 30,480 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Q2 by 28.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock worth $137,948,000 after buying an additional 378,394 shares during the period. Capital Research Global Investors increased its position in shares of Q2 by 11.2% during the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock worth $152,825,000 after acquiring an additional 152,872 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock worth $140,175,000 after acquiring an additional 36,025 shares during the last quarter. Finally, Jennison Associates LLC increased its position 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 acquiring an additional 41,412 shares during the last quarter.

Insider Activity

In other Q2 news, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction 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 transaction, the general counsel directly owned 58,441 shares in the company, valued at $5,429,168.90. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the transaction, the director directly owned 16,241 shares in the company, valued at $1,425,472.57. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,991 shares of company stock valued at $357,153. Corporate insiders own 0.31% of the company's stock.

Q2 Trading Down 8.5%

Shares of QTWO traded down $7.66 during trading hours on Thursday, reaching $82.33. 1,337,160 shares of the company traded hands, compared to its average volume of 664,520. The stock's fifty day moving average price is $90.30 and its 200 day moving average price is $86.35. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -235.23 and a beta of 1.48. Q2 Holdings, Inc. has a 12-month low of $61.51 and a 12-month high of $112.82.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on QTWO shares. Cantor Fitzgerald began coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. Royal Bank Of Canada boosted their target price on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday. Morgan Stanley boosted 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. Compass Point reaffirmed a "neutral" rating and set a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. started coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price objective for the company. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.06.

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.