Los Angeles Capital Management LLC Sells 890 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Los Angeles Capital Management LLC decreased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,668 shares of the technology company’s stock after selling 890 shares during the period. Los Angeles Capital Management LLC’s holdings in Q2 were worth $1,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC raised its holdings in Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after purchasing an additional 169 shares in the last quarter. Natixis Advisors LLC boosted its stake in Q2 by 1.4% during the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after acquiring an additional 237 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Q2 by 3.1% in the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock worth $824,000 after purchasing an additional 407 shares during the period. Arizona State Retirement System increased its stake in shares of Q2 by 2.6% during the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock valued at $998,000 after purchasing an additional 423 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its holdings in shares of Q2 by 9.6% during the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock valued at $406,000 after purchasing an additional 591 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $100.00 price target (up previously from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Compass Point raised their price target on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BTIG Research upped their price target on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada raised their price objective on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Finally, DA Davidson increased their price target on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Insider Activity

In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the sale, the director now owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction dated Wednesday, September 11th. The shares were 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 approximately $4,331,671.80. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,963 shares of company stock valued at $2,321,659 in the last quarter. 3.00% of the stock is currently owned by insiders.

Q2 Stock Down 5.3 %

Q2 stock opened at $97.83 on Friday. Q2 Holdings, Inc. has a one year low of $34.59 and a one year high of $105.00. The stock has a fifty day moving average of $82.11 and a 200 day moving average of $70.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market cap of $5.91 billion, a PE ratio of -101.91 and a beta of 1.58.

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.