Voloridge Investment Management LLC Purchases Shares of 5,261 Q2 Holdings, Inc. (NYSE:QTWO)

Voloridge Investment Management LLC purchased a new position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,261 shares of the technology company's stock, valued at approximately $530,000.

Several other institutional investors have also modified their holdings of the company. Highland Capital Management LLC grew its position in shares of Q2 by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company's stock worth $279,000 after acquiring an additional 172 shares during the last quarter. Arizona State Retirement System grew its position in shares of Q2 by 1.1% during the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock worth $1,761,000 after acquiring an additional 190 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Q2 by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company's stock worth $620,000 after acquiring an additional 195 shares during the last quarter. Moran Wealth Management LLC grew its position in Q2 by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock valued at $817,000 after buying an additional 215 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Q2 by 269.6% in the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company's stock valued at $38,000 after buying an additional 275 shares in the last quarter.

Insider Buying and Selling at Q2

In related news, General Counsel Michael S. Kerr sold 397 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the transaction, the general counsel now owns 58,441 shares in the company, valued at approximately $5,429,168.90. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares in the company, valued at $35,527,299.72. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,255 shares of company stock valued at $14,890,656. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QTWO. Morgan Stanley increased their target price on shares of Q2 from $89.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Q2 from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Royal Bank of Canada decreased their target price on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Raymond James decreased their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.80.

Q2 Trading Up 0.9%

QTWO stock traded up $0.81 during mid-day trading on Friday, reaching $87.55. 549,432 shares of the stock traded hands, compared to its average volume of 647,096. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 52-week low of $55.97 and a 52-week high of $112.82. The company has a market cap of $5.45 billion, a P/E ratio of -134.69 and a beta of 1.47. The stock's fifty day moving average is $81.15 and its 200-day moving average is $89.99.

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.