The Manufacturers Life Insurance Company Has $43.64 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

The Manufacturers Life Insurance Company cut its position in Q2 Holdings, Inc. (NYSE:QTWO) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 547,073 shares of the technology company’s stock after selling 68,570 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Q2 were worth $43,640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Conestoga Capital Advisors LLC raised its position in shares of Q2 by 1.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after buying an additional 34,300 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Q2 by 5.7% in the 2nd quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after buying an additional 67,757 shares in the last quarter. American Century Companies Inc. raised its position in shares of Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Q2 in the 3rd quarter valued at approximately $80,788,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Q2 by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,372 shares of the technology company’s stock valued at $60,474,000 after buying an additional 86,329 shares in the last quarter.

Q2 Trading Down 2.3 %

QTWO opened at $104.49 on Friday. Q2 Holdings, Inc. has a fifty-two week low of $35.20 and a fifty-two week high of $108.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of -108.84 and a beta of 1.58. The company’s 50 day moving average price is $88.38 and its two-hundred day moving average price is $73.84.

Insider Activity

In other news, Director James Offerdahl sold 548 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the sale, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the sale, the executive now directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,493 shares of company stock valued at $196,863. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on QTWO shares. Truist Financial reiterated a “buy” rating and set a $100.00 price objective (up from $78.00) on shares of Q2 in a research report on Thursday, November 7th. BTIG Research upped their price objective on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada upped their price objective on shares of Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.50.

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.