Intech Investment Management LLC Invests $1.23 Million in Q2 Holdings, Inc. (NYSE:QTWO)

Intech Investment Management LLC purchased a new stake in Q2 Holdings, Inc. (NYSE:QTWO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,378 shares of the technology company’s stock, valued at approximately $1,227,000.

Several other large investors have also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC grew its position in shares of Q2 by 1.5% in the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after purchasing an additional 34,300 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Q2 by 5.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after purchasing an additional 67,757 shares during the period. American Century Companies Inc. boosted its stake in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after purchasing an additional 1,190,274 shares during the period. Perpetual Ltd acquired a new position in Q2 in the 3rd quarter valued at $80,788,000. Finally, Dimensional Fund Advisors LP increased its position in Q2 by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,372 shares of the technology company’s stock worth $60,474,000 after buying an additional 86,329 shares during the period.

Wall Street Analysts Forecast Growth

QTWO has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Stephens boosted their price objective on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price target 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. The Goldman Sachs Group increased their price target on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, DA Davidson raised their price objective on Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Q2 Price Performance

QTWO stock opened at $106.99 on Wednesday. The company has a 50 day simple moving average of $86.70 and a 200 day simple moving average of $73.09. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of -111.45 and a beta of 1.58. Q2 Holdings, Inc. has a 1 year low of $34.59 and a 1 year high of $108.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the transaction, the director now owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,493 shares of company stock worth $196,863. Corporate insiders own 3.00% of the company’s stock.

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.