Q2 Holdings, Inc. $QTWO Position Trimmed by Cim Investment Management Inc.

Cim Investment Management Inc. decreased its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,831 shares of the technology company’s stock after selling 164 shares during the period. Cim Investment Management Inc.’s holdings in Q2 were worth $547,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QTWO. Versant Capital Management Inc bought a new position in shares of Q2 during the first quarter worth about $33,000. WPG Advisers LLC bought a new position in shares of Q2 during the first quarter worth about $35,000. Larson Financial Group LLC grew its position in shares of Q2 by 2,630.0% during the first quarter. Larson Financial Group LLC now owns 546 shares of the technology company’s stock worth $44,000 after acquiring an additional 526 shares during the last quarter. TCTC Holdings LLC grew its position in shares of Q2 by 103.1% during the first quarter. TCTC Holdings LLC now owns 597 shares of the technology company’s stock worth $48,000 after acquiring an additional 303 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Q2 during the first quarter worth about $58,000.

Insider Activity

In other news, insider John E. Breeden sold 6,105 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Offerdahl sold 786 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the transaction, the director owned 17,792 shares of the company’s stock, valued at approximately $1,319,276.80. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Q2 Stock Up 0.9%

Shares of QTWO opened at $82.83 on Friday. The firm has a 50-day moving average price of $82.72 and a 200 day moving average price of $83.01. The firm has a market capitalization of $5.17 billion, a PE ratio of 1,656.93 and a beta of 1.49. Q2 Holdings, Inc. has a 52-week low of $63.61 and a 52-week high of $112.82.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QTWO. Royal Bank Of Canada upped their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price target on Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Zacks Research raised Q2 to a “strong-buy” rating in a research note on Friday, August 8th. Stifel Nicolaus increased their price target on Q2 from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald assumed coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an “overweight” rating and a $110.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.25.

About Q2

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.