Edgestream Partners L.P. Purchases 38,021 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Edgestream Partners L.P. grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 99.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 76,361 shares of the technology company’s stock after acquiring an additional 38,021 shares during the quarter. Edgestream Partners L.P. owned about 0.13% of Q2 worth $6,091,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of QTWO. CWM LLC raised its stake in Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Q2 by 1.4% in the 2nd quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after buying an additional 237 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Q2 by 3.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock valued at $824,000 after buying an additional 407 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Q2 by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock valued at $998,000 after acquiring an additional 423 shares during the last quarter. Finally, RiverPark Advisors LLC grew its position in Q2 by 9.6% in the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock worth $406,000 after acquiring an additional 591 shares in the last quarter.

Analysts Set New Price Targets

QTWO has been the topic of a number of recent research reports. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and upped their price objective for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Morgan Stanley increased their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their target price on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Stephens lifted their price target on shares of Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.50.

Q2 Stock Performance

Q2 stock opened at $104.74 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The company has a market capitalization of $6.33 billion, a PE ratio of -109.10 and a beta of 1.58. The company has a 50 day moving average price of $88.85 and a 200-day moving average price of $74.14. Q2 Holdings, Inc. has a fifty-two week low of $35.20 and a fifty-two week high of $108.00.

Insiders Place Their Bets

In other news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred 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 transaction, the executive now directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,493 shares of company stock worth $196,863 in the last ninety days. 3.00% of the stock is owned by company insiders.

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.