Q2 Holdings, Inc. (NYSE:QTWO) Position Trimmed by Jennison Associates LLC

Jennison Associates LLC reduced its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 18.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,517,634 shares of the technology company’s stock after selling 348,209 shares during the quarter. Jennison Associates LLC owned approximately 2.52% of Q2 worth $121,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QTWO. CWM LLC lifted its position in Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. grew its holdings in Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after buying an additional 964 shares in the last quarter. Quest Partners LLC bought a new position in Q2 in the 2nd quarter worth approximately $153,000. Finally, Highland Capital Management LLC acquired a new stake in Q2 in the 3rd quarter valued at approximately $208,000.

Analysts Set New Price Targets

QTWO has been the subject of several recent analyst reports. Compass Point increased their price target on Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler boosted their price target on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $100.00 price target (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Finally, Morgan Stanley raised their price objective on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.50.

Q2 Stock Up 1.8 %

NYSE QTWO opened at $101.43 on Thursday. The company has a 50 day moving average price of $84.16 and a two-hundred day moving average price of $71.89. Q2 Holdings, Inc. has a 12-month low of $34.59 and a 12-month high of $105.00. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.

Insider Activity at Q2

In other news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares in the company, valued at approximately $1,389,822.33. The trade was a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. This represents a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,963 shares of company stock valued at $2,321,659. Insiders own 3.00% of the company’s stock.

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.