AQR Capital Management LLC Sells 376 Shares of Q2 Holdings, Inc. $QTWO

AQR Capital Management LLC trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,870 shares of the technology company’s stock after selling 376 shares during the period. AQR Capital Management LLC owned approximately 0.10% of Q2 worth $4,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG increased its position in Q2 by 1.1% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 16,687 shares of the technology company’s stock valued at $1,335,000 after buying an additional 188 shares in the last quarter. Advisors Asset Management Inc. increased its position in Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares in the last quarter. Xponance Inc. increased its position in Q2 by 5.1% in the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company’s stock valued at $366,000 after buying an additional 224 shares in the last quarter. Mutual of America Capital Management LLC increased its position in Q2 by 0.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,820 shares of the technology company’s stock valued at $3,426,000 after buying an additional 248 shares in the last quarter. Finally, Summit Global Investments increased its holdings in Q2 by 2.6% during the 1st quarter. Summit Global Investments now owns 9,902 shares of the technology company’s stock worth $792,000 after purchasing an additional 255 shares in the last quarter.

Insider Activity at Q2

In related news, Director James Offerdahl sold 786 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the transaction, the director owned 17,792 shares in the company, valued at approximately $1,319,276.80. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Breeden sold 6,105 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Q2 Trading Down 0.6%

Q2 stock opened at $82.23 on Friday. Q2 Holdings, Inc. has a 12 month low of $63.61 and a 12 month high of $112.82. The business’s 50 day simple moving average is $82.51 and its 200 day simple moving average is $82.99. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 1,644.93 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QTWO. Cantor Fitzgerald began coverage on Q2 in a report on Tuesday, June 3rd. They set an “overweight” rating and a $110.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Q2 from $101.00 to $102.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Needham & Company LLC boosted their price objective on Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen lowered Q2 from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 8th. Finally, Zacks Research raised Q2 to a “strong-buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average price target of $102.25.

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.