Gotham Asset Management LLC Purchases 5,428 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Gotham Asset Management LLC boosted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,277 shares of the technology company's stock after acquiring an additional 5,428 shares during the quarter. Gotham Asset Management LLC owned 0.07% of Q2 worth $3,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in Q2 during the 4th quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in Q2 in the 4th quarter worth approximately $30,000. Ameliora Wealth Management Ltd. bought a new position in Q2 in the 4th quarter valued at $32,000. NewEdge Advisors LLC raised 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 during the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Q2 during the fourth quarter valued at $98,000.

Insider Activity

In other news, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares of the company's stock, valued at $1,516,518.36. This trade represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael S. Kerr sold 397 shares of the firm's stock in a transaction dated 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 now owns 58,441 shares of the company's stock, valued at $5,429,168.90. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 194,255 shares of company stock worth $14,890,846 over the last three months. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on QTWO shares. Raymond James cut their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC reduced their price target on Q2 from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a report on Friday, March 28th. Robert W. Baird raised their target price on Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Stephens reaffirmed an "overweight" rating and issued a $115.00 price target on shares of Q2 in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Q2 has a consensus rating of "Moderate Buy" and a consensus target price of $98.80.

Q2 Stock Up 0.2%

Shares of NYSE:QTWO traded up $0.18 during midday trading on Tuesday, reaching $90.16. 62,948 shares of the company were exchanged, compared to its average volume of 647,431. The stock has a fifty day simple moving average of $79.49 and a two-hundred day simple moving average of $90.51. The firm has a market cap of $5.62 billion, a PE ratio of -138.77 and a beta of 1.47. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a fifty-two week low of $55.97 and a fifty-two week high of $112.82.

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.