Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 36.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 311,082 shares of the technology company’s stock after selling 178,329 shares during the quarter. Victory Capital Management Inc. owned about 0.52% of Q2 worth $18,768,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hood River Capital Management LLC purchased a new stake in shares of Q2 during the first quarter worth approximately $62,765,000. Price T Rowe Associates Inc. MD increased its stake in shares of Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after buying an additional 683,957 shares during the period. Norges Bank purchased a new stake in shares of Q2 during the fourth quarter worth approximately $20,470,000. Wasatch Advisors LP increased its stake in shares of Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Q2 during the first quarter worth approximately $19,101,000.

Insider Buying and Selling

In related news, Director James Offerdahl sold 1,013 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director James Offerdahl sold 1,013 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. The disclosure for this sale can be found here. Insiders sold a total of 54,916 shares of company stock valued at $3,896,644 over the last three months. 3.60% of the stock is currently owned by company insiders.

Q2 Price Performance

Shares of NYSE QTWO opened at $72.01 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a fifty day moving average price of $69.23 and a 200 day moving average price of $60.22. Q2 Holdings, Inc. has a 1-year low of $28.91 and a 1-year high of $75.94. The company has a market cap of $4.33 billion, a PE ratio of -53.34 and a beta of 1.58.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research increased their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada increased their price target on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, DA Davidson lowered shares of Q2 from a “buy” rating to a “neutral” rating and increased their price target for the company from $65.00 to $76.00 in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.38.

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.