Price T Rowe Associates Inc. MD Sells 58,007 Shares of Q2 Holdings, Inc. $QTWO

Price T Rowe Associates Inc. MD trimmed its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 7.7% during the first quarter, Holdings Channel reports. The fund owned 695,099 shares of the technology company’s stock after selling 58,007 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Q2 were worth $55,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTWO. Assenagon Asset Management S.A. boosted its stake in Q2 by 1,043.1% in the first quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company’s stock valued at $76,408,000 after acquiring an additional 871,437 shares during the last quarter. Nuveen LLC purchased a new position in Q2 in the first quarter valued at about $51,960,000. Ameriprise Financial Inc. boosted its stake in Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after acquiring an additional 520,649 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Q2 by 28.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock valued at $137,948,000 after acquiring an additional 378,394 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Q2 by 1,909.2% in the fourth quarter. Tidal Investments LLC now owns 213,899 shares of the technology company’s stock valued at $21,529,000 after acquiring an additional 203,253 shares during the last quarter.

Insiders Place Their Bets

In other Q2 news, insider John E. Breeden sold 6,105 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 149,643 shares in the company, valued at $11,263,628.61. This represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 786 shares of the stock in a transaction that occurred 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 sale, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,485 shares of company stock worth $750,307 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Q2 Price Performance

NYSE QTWO opened at $76.93 on Wednesday. Q2 Holdings, Inc. has a 1 year low of $63.61 and a 1 year high of $112.82. The stock has a market capitalization of $4.80 billion, a PE ratio of 1,538.81 and a beta of 1.47. The company’s 50 day simple moving average is $85.70 and its two-hundred day simple moving average is $83.89.

Wall Street Analysts Forecast Growth

QTWO has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of Q2 in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $110.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Q2 in a research note on Wednesday, June 18th. They set an “overweight” rating and a $115.00 price target on the stock. Zacks Research upgraded shares of Q2 to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Robert W. Baird upped their price target on shares of Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

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.