Jennison Associates LLC cut its position in Q2 Holdings, Inc. (NYSE:QTWO) by 53.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631,481 shares of the technology company’s stock after selling 736,606 shares during the period. Jennison Associates LLC owned about 1.54% of Q2 Holdings worth $23,333,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of QTWO. Strs Ohio raised its stake in shares of Q2 Holdings by 6.6% in the second quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock worth $299,000 after buying an additional 500 shares during the period. Sei Investments Co. raised its stake in Q2 Holdings by 36.9% in the second quarter. Sei Investments Co. now owns 3,557 shares of the technology company’s stock valued at $131,000 after buying an additional 959 shares during the last quarter. American International Group Inc. raised its stake in Q2 Holdings by 7.1% in the first quarter. American International Group Inc. now owns 15,740 shares of the technology company’s stock valued at $549,000 after buying an additional 1,038 shares during the last quarter. Legal & General Group Plc raised its stake in Q2 Holdings by 19.7% in the second quarter. Legal & General Group Plc now owns 7,256 shares of the technology company’s stock valued at $269,000 after buying an additional 1,195 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Q2 Holdings by 26.5% in the second quarter. Blair William & Co. IL now owns 8,830 shares of the technology company’s stock valued at $326,000 after buying an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.
Q2 Holdings, Inc. (NYSE QTWO) opened at 40.95 on Friday. Q2 Holdings, Inc. has a 52-week low of $25.23 and a 52-week high of $41.70. The company’s market cap is $1.69 billion. The stock’s 50 day moving average is $38.41 and its 200 day moving average is $37.22.
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Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Q2 Holdings in a research note on Friday, May 5th. Canaccord Genuity reiterated a “buy” rating and set a $43.00 target price on shares of Q2 Holdings in a research note on Monday, May 15th. SunTrust Banks, Inc. assumed coverage on shares of Q2 Holdings in a research note on Monday, June 26th. They set a “buy” rating and a $45.00 target price for the company. ValuEngine upgraded shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BTIG Research upgraded shares of Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Monday, May 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $42.13.
In related news, SVP Barry G. Benton sold 1,500 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $38.19, for a total transaction of $57,285.00. Following the completion of the sale, the senior vice president now directly owns 23,487 shares in the company, valued at approximately $896,968.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $37.63, for a total value of $37,630.00. Following the sale, the director now owns 6,043 shares of the company’s stock, valued at $227,398.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 381,756 shares of company stock valued at $14,518,633. 24.50% of the stock is owned by corporate insiders.
Q2 Holdings Company Profile
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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