Voya Investment Management LLC Decreases Position in Q2 Holdings, Inc. $QTWO

Key Points

• Voya Investment Management LLC significantly reduced its stake in Q2 Holdings by 99.2%, selling nearly 30 million shares and retaining only about 256,529 shares valued at approximately $20.5 million.
• Multiple institutional investors adjusted their positions in Q2 Holdings, with Massachusetts Financial Services increasing its holdings by 28.1% and Assenagon Asset Management by an astonishing 1,043.1%.
• Q2 Holdings' stock is currently priced at $82.23, with a 1-year high of $112.82 and a low of $63.61, amid varied analyst ratings and a consensus target price of $102.25.

Voya Investment Management LLC lessened its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 99.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,529 shares of the technology company's stock after selling 29,949,597 shares during the period. Voya Investment Management LLC owned about 0.41% of Q2 worth $20,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Q2 by 2.3% during the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after acquiring an additional 60,958 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Q2 by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock worth $156,651,000 after purchasing an additional 30,480 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Q2 by 28.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock worth $137,948,000 after purchasing an additional 378,394 shares during the period. Jennison Associates LLC lifted its position in shares of Q2 by 3.3% in the 1st quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock worth $104,155,000 after purchasing an additional 41,412 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Q2 by 1,043.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company's stock worth $76,408,000 after purchasing an additional 871,437 shares during the period.

Q2 Price Performance

Shares of NYSE:QTWO opened at $82.23 on Monday. Q2 Holdings, Inc. has a 1-year low of $63.61 and a 1-year high of $112.82. The business has a fifty day moving average price of $82.51 and a 200-day moving average price of $82.95. The company has a market capitalization of $5.13 billion, a PE ratio of 1,644.93 and a beta of 1.49.

Insider Buying and Selling 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 completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the transaction, the insider owned 149,643 shares of the company's stock, valued at $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. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on QTWO. Cantor Fitzgerald began coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 target price for the company. Royal Bank Of Canada raised their target price on shares of Q2 from $101.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 8th. Zacks Research upgraded Q2 to a "strong-buy" rating in a report on Friday, August 8th. Finally, Needham & Company LLC increased their price objective on Q2 from $110.00 to $115.00 and gave the stock a "buy" rating in a 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.25.

Q2 Company 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.

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