Peregrine Capital Management LLC Grows Position in Q2 Holdings, Inc. $QTWO

Peregrine Capital Management LLC boosted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,895 shares of the technology company’s stock after purchasing an additional 1,676 shares during the period. Peregrine Capital Management LLC owned approximately 0.16% of Q2 worth $9,256,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its stake in Q2 by 1.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,121 shares of the technology company’s stock valued at $2,070,000 after acquiring an additional 270 shares during the period. Bessemer Group Inc. lifted its stake in Q2 by 4.5% during the 2nd quarter. Bessemer Group Inc. now owns 343,350 shares of the technology company’s stock valued at $32,134,000 after acquiring an additional 14,725 shares during the period. Ethic Inc. acquired a new stake in Q2 during the 2nd quarter valued at approximately $302,000. Cookson Peirce & Co. Inc. lifted its stake in Q2 by 1.4% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 118,489 shares of the technology company’s stock valued at $11,089,000 after acquiring an additional 1,675 shares during the period. Finally, LMG Wealth Partners LLC lifted its stake in Q2 by 4.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 17,500 shares of the technology company’s stock valued at $1,638,000 after acquiring an additional 788 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on QTWO shares. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Needham & Company LLC lifted their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus decreased their target price on shares of Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.69.

Q2 Price Performance

QTWO opened at $62.22 on Tuesday. The firm has a fifty day moving average price of $72.64 and a 200 day moving average price of $81.02. Q2 Holdings, Inc. has a 1 year low of $58.57 and a 1 year high of $112.82. The stock has a market cap of $3.88 billion, a P/E ratio of 1,244.55 and a beta of 1.47.

Insider Buying and Selling

In related news, insider John E. Breeden sold 6,105 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $75.27, for a total value of $459,523.35. Following the completion of the sale, the insider owned 149,643 shares of the company’s stock, valued at approximately $11,263,628.61. The trade was a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 786 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company’s stock, 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. In the last quarter, insiders sold 8,499 shares of company stock valued at $650,658. 0.31% 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.