Q2 Holdings, Inc. $QTWO Shares Purchased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Q2 Holdings, Inc. by 111.9% during the first quarter, acquiring an additional 13,000 shares and raising its total to 24,614 shares valued at approximately $1.97 million.
• Several analysts have raised their price targets for Q2 Holdings, with JPMorgan Chase giving it an "overweight" rating and a target of $115, while the average price target stands at $102.25.
• Insiders have been actively trading shares, with significant sales including 6,105 shares sold by insider John E. Breeden on August 18th, indicating a 3.92% decrease in their ownership.

Synovus Financial Corp raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 111.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,614 shares of the technology company's stock after buying an additional 13,000 shares during the quarter. Synovus Financial Corp's holdings in Q2 were worth $1,969,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of QTWO. Assenagon Asset Management S.A. grew its holdings in Q2 by 1,043.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock valued at $76,408,000 after buying an additional 871,437 shares during the last quarter. Nuveen LLC acquired a new stake in Q2 during the 1st quarter valued at $51,960,000. Ameriprise Financial Inc. grew its holdings in Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after buying an additional 520,649 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $137,948,000 after buying an additional 378,394 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Q2 by 1,909.2% during the 4th quarter. Tidal Investments LLC now owns 213,899 shares of the technology company's stock valued at $21,529,000 after buying an additional 203,253 shares during the last quarter.

Q2 Trading Up 0.0%

Shares of Q2 stock traded up $0.01 during trading hours on Monday, reaching $78.84. 727,684 shares of the company's stock were exchanged, compared to its average volume of 980,668. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 1,577.02 and a beta of 1.49. The company has a fifty day moving average of $84.80 and a 200-day moving average of $83.45. Q2 Holdings, Inc. has a 52-week low of $63.61 and a 52-week high of $112.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James Financial lowered their target price on Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Robert W. Baird increased their price target on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Needham & Company LLC increased their price target on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. 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 note on Thursday, July 31st. Finally, Stifel Nicolaus increased their price target on Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One equities research 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Insider Buying and Selling

In related news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $88.88, for a total value of $126,920.64. Following the transaction, the executive directly owned 175,812 shares of the company's stock, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction, the director directly owned 17,792 shares in the company, valued at $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,485 shares of company stock valued at $750,307. 3.00% 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.