Victory Capital Management Inc. Boosts Position in Q2 Holdings, Inc. (NYSE:QTWO)

Victory Capital Management Inc. lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 56.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,501 shares of the technology company's stock after purchasing an additional 146,241 shares during the quarter. Victory Capital Management Inc. owned about 0.65% of Q2 worth $32,444,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in Q2 by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock worth $620,000 after buying an additional 195 shares during the period. Xponance Inc. increased its stake in Q2 by 5.1% during the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company's stock valued at $366,000 after purchasing an additional 224 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Q2 by 0.6% during the first quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company's stock worth $3,426,000 after buying an additional 248 shares during the last quarter. Summit Global Investments lifted its stake in shares of Q2 by 2.6% in the first quarter. Summit Global Investments now owns 9,902 shares of the technology company's stock valued at $792,000 after buying an additional 255 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after acquiring an additional 275 shares in the last quarter.

Insider Buying and Selling

In other news, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the transaction, the general counsel directly owned 58,441 shares in the company, valued at approximately $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the transaction, the director owned 16,241 shares of the company's stock, valued at $1,425,472.57. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,991 shares of company stock valued at $357,153. Corporate insiders own 0.31% of the company's stock.

Q2 Stock Performance

Shares of NYSE:QTWO traded down $1.33 during trading on Thursday, hitting $89.46. 329,654 shares of the company were exchanged, compared to its average volume of 448,824. Q2 Holdings, Inc. has a 52-week low of $61.51 and a 52-week high of $112.82. The stock has a 50 day moving average of $90.26 and a 200 day moving average of $86.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $5.57 billion, a PE ratio of -255.61 and a beta of 1.48.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QTWO. Needham & Company LLC cut their price target on Q2 from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Robert W. Baird increased their target price on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of Q2 from $89.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Compass Point reiterated a "neutral" rating and issued a $60.00 price objective on shares of Q2 in a research note on Monday, April 7th. Finally, Cantor Fitzgerald began coverage on shares of Q2 in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $110.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.41.

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.