Virtus Advisers LLC Takes Position in Q2 Holdings, Inc. $QTWO

Key Points

• Virtus Advisers LLC has acquired a new stake in Q2 Holdings, Inc., purchasing 4,017 shares valued at approximately $321,000.
• Several institutional investors have recently adjusted their positions in Q2 Holdings, with notable increases from Xponance Inc., Mutual of America Capital Management LLC, and Mitsubishi UFJ Asset Management Co. Ltd..
• Q2 Holdings' stock has seen a 5.1% increase and is currently trading at around $79.53, with analysts varying in their price targets and ratings for the stock.

Virtus Advisers LLC acquired a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,017 shares of the technology company's stock, valued at approximately $321,000.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock worth $38,000 after purchasing an additional 275 shares during the period. Versant Capital Management Inc purchased a new position in shares of Q2 during the 1st quarter worth approximately $33,000. Larson Financial Group LLC lifted its holdings in Q2 by 2,630.0% during the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock worth $44,000 after buying an additional 526 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock worth $48,000 after buying an additional 303 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in Q2 during the 1st quarter worth approximately $58,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 target price on the stock. 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. Zacks Research raised shares of Q2 to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Q2 from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Q2 currently has an average rating of "Moderate Buy" and an average target price of $102.25.

Q2 Trading Up 0.0%

NYSE:QTWO traded up $0.01 during midday trading on Friday, hitting $78.84. 727,684 shares of the company were exchanged, compared to its average volume of 1,012,715. The company has a market capitalization of $4.92 billion, a PE ratio of 1,577.02 and a beta of 1.47. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82. The company has a fifty day simple moving average of $85.09 and a 200 day simple moving average of $83.60.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, June 12th. The shares were 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 in the company, valued at approximately $15,626,170.56. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,485 shares of company stock worth $750,307. 0.31% of the stock is 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.