Massachusetts Financial Services Co. MA Sells 157,601 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 19.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 647,277 shares of the technology company’s stock after selling 157,601 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.07% of Q2 worth $51,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of QTWO. CWM LLC raised its stake in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Q2 by 1.4% in the 2nd quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after buying an additional 237 shares during the period. Panagora Asset Management Inc. grew its position in shares of Q2 by 3.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock worth $824,000 after buying an additional 407 shares during the last quarter. Arizona State Retirement System raised its holdings 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 acquiring an additional 423 shares in the last quarter. Finally, RiverPark Advisors LLC raised 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 acquiring an additional 591 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Compass Point increased their price target on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler lifted their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. BTIG Research increased their target price on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, The Goldman Sachs Group lifted their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Insider Activity at Q2

In other Q2 news, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the sale, the director now owns 18,789 shares in the company, valued at $1,389,822.33. This represents a 5.12 % 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. Over the last ninety days, insiders sold 2,958 shares of company stock worth $214,282. 3.00% of the stock is owned by company insiders.

Q2 Trading Up 1.4 %

Shares of NYSE:QTWO opened at $106.37 on Monday. The stock’s 50-day simple moving average is $86.05 and its two-hundred day simple moving average is $72.71. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of -110.80 and a beta of 1.58. Q2 Holdings, Inc. has a 52-week low of $34.59 and a 52-week high of $106.53. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

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.