Q2 Holdings, Inc. $QTWO Position Decreased by Oak Ridge Investments LLC

Oak Ridge Investments LLC trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,706 shares of the technology company’s stock after selling 1,383 shares during the quarter. Oak Ridge Investments LLC’s holdings in Q2 were worth $3,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS boosted its holdings in shares of Q2 by 9.6% in the second quarter. KLP Kapitalforvaltning AS now owns 12,600 shares of the technology company’s stock worth $1,179,000 after buying an additional 1,100 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Q2 in the second quarter worth about $671,000. Hilltop National Bank acquired a new position in shares of Q2 in the second quarter worth about $177,000. Dakota Wealth Management boosted its holdings in shares of Q2 by 3.8% in the second quarter. Dakota Wealth Management now owns 3,350 shares of the technology company’s stock worth $314,000 after buying an additional 123 shares during the period. Finally, Castleview Partners LLC acquired a new position in shares of Q2 in the second quarter worth about $347,000.

Analyst Ratings Changes

QTWO has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a report on Wednesday. Needham & Company LLC raised their price target on shares of Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.94.

Q2 Stock Performance

Shares of QTWO opened at $62.19 on Friday. The firm has a market cap of $3.88 billion, a PE ratio of 1,244.05 and a beta of 1.47. The firm’s 50 day moving average price is $75.76 and its 200 day moving average price is $82.11. Q2 Holdings, Inc. has a twelve month low of $62.06 and a twelve month high of $112.82.

Insider Activity at Q2

In related news, General Counsel Michael S. Kerr sold 967 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $82.60, for a total transaction of $79,874.20. Following the transaction, the general counsel owned 56,228 shares of the company’s stock, valued at approximately $4,644,432.80. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Offerdahl sold 786 shares of the firm’s stock in a transaction that occurred on 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 directly owned 17,792 shares in the company, valued at approximately $1,319,276.80. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,499 shares of company stock valued at $650,658. 0.31% of the stock is currently owned by corporate 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.