Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 33.2% in the third quarter, HoldingsChannel reports. The firm owned 221,034 shares of the technology company’s stock after purchasing an additional 55,107 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Q2 were worth $17,632,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QTWO. Hood River Capital Management LLC purchased a new position in shares of Q2 in the 1st quarter worth approximately $62,765,000. American Century Companies Inc. boosted its stake in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after buying an additional 1,190,274 shares during the period. Perpetual Ltd bought a new position in Q2 during the third quarter valued at $80,788,000. Price T Rowe Associates Inc. MD raised its stake in shares of Q2 by 1,910.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after acquiring an additional 354,524 shares during the last quarter.

Insider Activity at Q2

In related news, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. This represents a 5.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,963 shares of company stock valued at $2,321,659 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Q2 Stock Up 1.8 %

Shares of QTWO stock opened at $101.43 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. Q2 Holdings, Inc. has a 52-week low of $34.59 and a 52-week high of $105.00. The company’s 50 day moving average is $84.16 and its 200 day moving average is $71.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QTWO shares. Needham & Company LLC upped their price target on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BTIG Research upped their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Morgan Stanley raised their price target on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently 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.