Vanguard Group Inc. Acquires 941,672 Shares of Q2 Holdings, Inc. $QTWO

Vanguard Group Inc. grew its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,912,306 shares of the technology company’s stock after buying an additional 941,672 shares during the period. Vanguard Group Inc. owned 12.67% of Q2 worth $572,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QTWO. Advisors Asset Management Inc. boosted its stake in Q2 by 18.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,003 shares of the technology company’s stock worth $94,000 after purchasing an additional 154 shares during the period. ANB Bank grew its stake in Q2 by 7.1% during the second quarter. ANB Bank now owns 2,710 shares of the technology company’s stock valued at $254,000 after acquiring an additional 179 shares in the last quarter. Hilltop National Bank grew its position in shares of Q2 by 9.8% during the third quarter. Hilltop National Bank now owns 2,077 shares of the technology company’s stock valued at $150,000 after purchasing an additional 185 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Q2 by 0.3% in the second quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock worth $5,226,000 after buying an additional 194 shares in the last quarter. Finally, Summit Global Investments boosted its position in shares of Q2 by 2.0% during the 2nd quarter. Summit Global Investments now owns 10,100 shares of the technology company’s stock valued at $945,000 after acquiring an additional 198 shares during the last quarter.

Q2 Stock Up 0.0%

Shares of NYSE:QTWO opened at $47.37 on Wednesday. Q2 Holdings, Inc. has a 52 week low of $46.92 and a 52 week high of $96.68. The firm has a 50 day moving average of $64.42 and a 200 day moving average of $69.22. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 59.96 and a beta of 1.36.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QTWO. Cantor Fitzgerald lowered their price target on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. lowered their price objective on Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Wall Street Zen raised Q2 from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Stephens set a $90.00 price target on Q2 in a research report on Friday, January 16th. Finally, DA Davidson upgraded shares of Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.29.

Insider Activity at Q2

In other news, COO Himagiri K. Mukkamala sold 3,024 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $222,808.32. Following the completion of the sale, the chief operating officer owned 96,046 shares in the company, valued at approximately $7,076,669.28. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $75.46, for a total value of $386,581.58. Following the completion of the sale, the executive directly owned 166,512 shares of the company’s stock, valued at $12,564,995.52. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,883 shares of company stock valued at $1,547,778 over the last 90 days. Insiders own 3.00% of the company’s stock.

Q2 Profile

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.