The Manufacturers Life Insurance Company Increases Stock Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• The Manufacturers Life Insurance Company increased its stake in Q2 Holdings, Inc. by 30.5%, owning 565,503 shares valued at approximately $45.25 million as of the latest reporting period.
• Other large investors, including Invesco Ltd., Massachusetts Financial Services Co., and Jennison Associates LLC, also increased their positions in Q2 during the first quarter, indicating strong institutional interest.
• Analysts have mixed ratings for Q2, with a consensus rating of "Moderate Buy" and a target price of $102.25, reflecting optimism about the company's future prospects.

The Manufacturers Life Insurance Company increased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 30.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,503 shares of the technology company's stock after purchasing an additional 132,038 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.91% of Q2 worth $45,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WPG Advisers LLC purchased a new stake in Q2 during the 1st quarter worth about $35,000. State of Wyoming increased its position in Q2 by 43.6% during the 1st quarter. State of Wyoming now owns 5,677 shares of the technology company's stock worth $454,000 after purchasing an additional 1,723 shares in the last quarter. Next Century Growth Investors LLC increased its position in Q2 by 7.7% during the 1st quarter. Next Century Growth Investors LLC now owns 224,703 shares of the technology company's stock worth $17,978,000 after purchasing an additional 16,035 shares in the last quarter. Truvestments Capital LLC boosted its stake in Q2 by 428.1% in the 1st quarter. Truvestments Capital LLC now owns 9,939 shares of the technology company's stock worth $795,000 after buying an additional 8,057 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in Q2 by 1.1% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 16,687 shares of the technology company's stock worth $1,335,000 after buying an additional 188 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QTWO shares. JPMorgan Chase & Co. started coverage on Q2 in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target on the stock. Cantor Fitzgerald started coverage on Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target on the stock. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Needham & Company LLC raised 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. Finally, Royal Bank Of Canada raised 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.25.

Q2 Stock Up 2.1%

Shares of NYSE QTWO traded up $1.64 during midday trading on Friday, hitting $78.91. The stock had a trading volume of 706,631 shares, compared to its average volume of 765,501. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,578.42 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 company has a fifty day moving average price of $83.47 and a 200 day moving average price of $83.10.

Insider Activity

In related news, CRO Michael A. Volanoski sold 1,428 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the sale, the executive directly owned 175,812 shares in the company, 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 this link. Also, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were 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 approximately $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,485 shares of company stock valued at $750,307 in the last three months. Corporate insiders own 0.31% of the company's stock.

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.