Envestnet Asset Management Inc. Grows Stake in Q2 Holdings, Inc. $QTWO

Envestnet Asset Management Inc. increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 32.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,971 shares of the technology company’s stock after purchasing an additional 28,207 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of Q2 worth $8,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Q2 during the second quarter worth about $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Q2 in the third quarter valued at $27,000. Salomon & Ludwin LLC purchased a new position in Q2 in the third quarter valued at $30,000. First Horizon Corp acquired a new position in Q2 during the 3rd quarter worth $37,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after purchasing an additional 539 shares during the period.

Analyst Ratings Changes

A number of research firms have weighed in on QTWO. Stephens set a $90.00 price objective on shares of Q2 in a report on Friday, January 16th. Needham & Company LLC lowered their target price on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Morgan Stanley set a $68.00 price objective on shares of Q2 in a research note on Thursday, February 12th. Zacks Research upgraded shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Q2 from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Price Performance

Q2 stock opened at $51.71 on Friday. Q2 Holdings, Inc. has a 12-month low of $51.34 and a 12-month high of $96.68. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 65.46 and a beta of 1.36. The firm’s fifty day moving average price is $65.93 and its 200 day moving average price is $69.89.

Insider Transactions at Q2

In other Q2 news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $222,808.32. Following the completion of the transaction, the chief operating officer owned 96,046 shares of the company’s stock, valued at $7,076,669.28. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $630,627.12. Following the completion of the sale, the insider directly owned 269,128 shares in the company, valued at approximately $19,829,351.04. This represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,883 shares of company stock worth $1,547,778 in the last 90 days. 0.31% of the stock is owned by insiders.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.