Q2 Holdings, Inc. $QTWO Position Lessened by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP has decreased its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 0.7%, now owning 861,767 shares worth approximately $68.95 million.
• The share price of Q2 Holdings has changed, currently listed at $78.91, with a 12-month range between $63.61 and $112.82.
• Analysts have mixed ratings on Q2 stock, with an average rating of "Moderate Buy" and a consensus price target of $102.25.

Tensile Capital Management LP trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 861,767 shares of the technology company's stock after selling 6,000 shares during the quarter. Q2 makes up 8.8% of Tensile Capital Management LP's holdings, making the stock its 4th biggest position. Tensile Capital Management LP owned approximately 1.38% of Q2 worth $68,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in Q2 in the first quarter valued at about $33,000. WPG Advisers LLC purchased a new position in Q2 in the first quarter valued at about $35,000. Larson Financial Group LLC lifted its stake 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 valued at $44,000 after buying an additional 526 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after buying an additional 303 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Q2 during the 1st quarter valued at approximately $58,000.

Q2 Price Performance

Shares of QTWO stock traded down $0.54 during trading hours on Friday, reaching $82.18. 288,666 shares of the company's stock were exchanged, compared to its average volume of 735,015. The company has a market cap of $5.13 billion, a P/E ratio of 1,647.55 and a beta of 1.49. The company's 50 day moving average is $82.72 and its two-hundred day moving average is $83.01. Q2 Holdings, Inc. has a 1 year low of $63.61 and a 1 year high of $112.82.

Insider Activity at Q2

In other news, Director James Offerdahl sold 786 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Breeden sold 6,105 shares of the firm's 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 sale, the insider owned 149,643 shares in the company, valued at $11,263,628.61. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QTWO. Needham & Company LLC upped their price target on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada increased their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Zacks Research raised shares of Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Q2 in a report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

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.