Q2 Holdings, Inc. (QTWO) Stake Reduced by Legal & General Group Plc
Legal & General Group Plc cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,061 shares of the technology company’s stock after selling 232 shares during the period. Legal & General Group Plc’s holdings in Q2 Holdings were worth $211,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of QTWO. SG Americas Securities LLC acquired a new position in Q2 Holdings during the first quarter worth approximately $109,000. Aberdeen Asset Management PLC UK acquired a new position in Q2 Holdings during the first quarter worth approximately $204,000. Arcus Capital Partners LLC acquired a new position in Q2 Holdings during the first quarter worth approximately $221,000. Blair William & Co. IL acquired a new position in Q2 Holdings during the first quarter worth approximately $243,000. Finally, First Mercantile Trust Co. increased its position in Q2 Holdings by 249.8% in the first quarter. First Mercantile Trust Co. now owns 7,555 shares of the technology company’s stock worth $263,000 after buying an additional 5,395 shares during the period. 93.99% of the stock is currently owned by institutional investors.
Q2 Holdings, Inc. (QTWO) traded up 3.45% during mid-day trading on Friday, hitting $37.50. 249,697 shares of the stock were exchanged. The company has a 50 day moving average of $37.86 and a 200 day moving average of $36.71. Q2 Holdings, Inc. has a 12-month low of $25.23 and a 12-month high of $40.50. The firm’s market cap is $1.55 billion.
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A number of research firms have commented on QTWO. Zacks Investment Research raised shares of Q2 Holdings from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday. ValuEngine raised shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity reissued a “buy” rating and set a $43.00 target price on shares of Q2 Holdings in a research report on Monday, May 15th. Needham & Company LLC reissued a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Q2 Holdings in a research report on Friday, May 5th. Finally, SunTrust Banks, Inc. began coverage on shares of Q2 Holdings in a research report on Monday, June 26th. They set a “buy” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.13.
In related news, insider Adam D. Blue sold 25,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $39.33, for a total transaction of $983,250.00. Following the completion of the sale, the insider now directly owns 65,805 shares of the company’s stock, valued at $2,588,110.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $37.63, for a total value of $37,630.00. Following the sale, the director now directly owns 6,043 shares of the company’s stock, valued at $227,398.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 380,277 shares of company stock valued at $14,461,224. Corporate insiders own 24.50% of the company’s stock.
About Q2 Holdings
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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