Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 828,138 shares of the technology company’s stock after selling 47,265 shares during the period. Fred Alger Management LLC owned approximately 1.37% of Q2 worth $66,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versor Investments LP acquired a new position in Q2 during the third quarter worth $590,000. DekaBank Deutsche Girozentrale grew its holdings in Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after acquiring an additional 22,400 shares during the period. Perpetual Ltd acquired a new position in Q2 during the third quarter worth $80,788,000. Price T Rowe Associates Inc. MD grew its holdings in Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after acquiring an additional 683,957 shares during the period. Finally, Creative Planning grew its holdings in Q2 by 62.5% during the third quarter. Creative Planning now owns 19,834 shares of the technology company’s stock worth $1,582,000 after acquiring an additional 7,631 shares during the period.

Analysts Set New Price Targets

Several analysts have weighed in on QTWO shares. Needham & Company LLC upped their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. DA Davidson upped their target price on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. BTIG Research upped their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Stephens upped their target price on Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Citigroup lowered Q2 from a “buy” rating to a “neutral” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Q2 Stock Down 2.3 %

NYSE QTWO opened at $104.49 on Friday. The business’s 50-day moving average price is $88.38 and its 200 day moving average price is $73.84. Q2 Holdings, Inc. has a twelve month low of $35.20 and a twelve month high of $108.00. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. This trade represents a 0.84 % 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 548 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the transaction, the director now owns 18,241 shares in the company, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,493 shares of company stock worth $196,863 in the last three months. 3.00% of the stock is currently owned by company insiders.

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.