Q2 Holdings, Inc. $QTWO Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 79.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,683 shares of the technology company’s stock after buying an additional 75,779 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Q2 worth $12,428,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Q2 in the 2nd quarter valued at about $26,000. Cullen Frost Bankers Inc. acquired a new position in Q2 in the third quarter valued at approximately $27,000. Salomon & Ludwin LLC purchased a new position in Q2 in the third quarter valued at approximately $30,000. First Horizon Corp acquired a new stake in Q2 during the third quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after buying an additional 539 shares during the last quarter.

Q2 Stock Down 1.2%

Shares of QTWO stock opened at $51.71 on Friday. The stock’s 50-day moving average price is $65.93 and its 200 day moving average price is $69.89. The stock has a market capitalization of $3.23 billion, a PE ratio of 65.46 and a beta of 1.36. Q2 Holdings, Inc. has a 52-week low of $51.34 and a 52-week high of $96.68.

Insider Buying and Selling at Q2

In other Q2 news, CRO Michael A. Volanoski sold 5,123 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the transaction, the executive owned 166,512 shares in the company, valued at approximately $12,564,995.52. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Himagiri K. Mukkamala sold 3,024 shares of Q2 stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $222,808.32. Following the completion of the sale, the chief operating officer directly owned 96,046 shares in the company, valued at approximately $7,076,669.28. The trade was a 3.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,883 shares of company stock valued at $1,547,778. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on QTWO. DA Davidson upgraded shares of Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a research report on Thursday, January 22nd. Royal Bank Of Canada decreased their target price on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research report on Thursday, February 12th. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.