Vanguard Group Inc. Sells 4,258 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Vanguard Group Inc. cut its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,959,454 shares of the technology company’s stock after selling 4,258 shares during the period. Vanguard Group Inc. owned approximately 11.17% of Q2 worth $556,826,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of QTWO. Assenagon Asset Management S.A. boosted its holdings in Q2 by 1,043.1% in the first quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company’s stock worth $76,408,000 after purchasing an additional 871,437 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Q2 by 105.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after acquiring an additional 520,649 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock valued at $137,948,000 after acquiring an additional 378,394 shares during the period. Tidal Investments LLC boosted its holdings in Q2 by 1,909.2% during the fourth quarter. Tidal Investments LLC now owns 213,899 shares of the technology company’s stock valued at $21,529,000 after acquiring an additional 203,253 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Q2 during the fourth quarter valued at about $18,271,000.

Insider Activity

In related news, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the transaction, the director owned 16,241 shares of the company’s stock, valued at $1,425,472.57. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the transaction, the executive directly owned 175,812 shares of the company’s stock, valued at $15,626,170.56. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,380 shares of company stock valued at $378,554 in the last three months. Company insiders own 0.31% of the company’s stock.

Q2 Stock Down 1.9%

NYSE:QTWO opened at $74.92 on Friday. Q2 Holdings, Inc. has a 12-month low of $63.61 and a 12-month high of $112.82. The firm has a market capitalization of $4.68 billion, a PE ratio of 1,498.78 and a beta of 1.47. The firm has a 50-day moving average price of $87.68 and a 200 day moving average price of $85.03.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Q2 in a report on Wednesday, June 18th. They set an “overweight” rating and a $115.00 price target for the company. Raymond James Financial decreased their price target on shares of Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Q2 from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 8th. Royal Bank Of Canada upped their price target on shares of Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Finally, Robert W. Baird upped their price target on shares of Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Q2 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.