Legato Capital Management LLC Boosts Stake in Q2 Holdings, Inc. (NYSE:QTWO)

Legato Capital Management LLC increased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,935 shares of the technology company’s stock after buying an additional 5,125 shares during the period. Legato Capital Management LLC’s holdings in Q2 were worth $1,805,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP lifted its position in shares of Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after buying an additional 336 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new stake in shares of Q2 in the fourth quarter worth about $32,000. CWM LLC lifted its position in shares of Q2 by 199.8% in the third quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after buying an additional 961 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after buying an additional 1,812 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after buying an additional 964 shares in the last quarter.

Q2 Stock Performance

QTWO opened at $91.69 on Wednesday. The stock’s 50 day moving average price is $99.70 and its 200-day moving average price is $87.89. Q2 Holdings, Inc. has a one year low of $41.23 and a one year high of $112.82. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KeyCorp upgraded Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price on the stock in a research report on Wednesday, December 18th. Piper Sandler upped their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report 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. Compass Point upped their price objective on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, DA Davidson upped their price objective on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Insider Buying and Selling

In related news, Director James Offerdahl sold 548 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now owns 18,241 shares of the company’s stock, valued at $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 4,178 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $442,868.00. Following the completion of the transaction, the executive now directly owns 223,494 shares in the company, valued at approximately $23,690,364. This trade represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,836 shares of company stock valued at $3,061,035 over the last quarter. 3.00% of the stock is owned by corporate insiders.

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.