Corton Capital Inc. Makes New Investment in Q2 Holdings, Inc. $QTWO

Corton Capital Inc. acquired a new position in Q2 Holdings, Inc. (NYSE:QTWO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,153 shares of the technology company’s stock, valued at approximately $201,000.

A number of other hedge funds also recently modified their holdings of QTWO. Invesco Ltd. lifted its position in shares of Q2 by 2.3% during the 1st quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company’s stock worth $214,045,000 after buying an additional 60,958 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Q2 by 28.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock worth $137,948,000 after buying an additional 378,394 shares during the period. Jennison Associates LLC lifted its position in shares of Q2 by 3.1% during the 2nd quarter. Jennison Associates LLC now owns 1,342,772 shares of the technology company’s stock worth $125,670,000 after buying an additional 41,000 shares during the period. Federated Hermes Inc. lifted its position in shares of Q2 by 5.4% during the 1st quarter. Federated Hermes Inc. now owns 746,938 shares of the technology company’s stock worth $59,763,000 after buying an additional 38,315 shares during the period. Finally, Nuveen LLC bought a new position in shares of Q2 during the 1st quarter worth approximately $51,960,000.

Wall Street Analyst Weigh In

QTWO has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research report on Wednesday, October 8th. Stifel Nicolaus cut their target price on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Cantor Fitzgerald cut their target price on Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Finally, Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $99.44.

Insider Activity

In other news, General Counsel Michael S. Kerr sold 967 shares of Q2 stock in a transaction on Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the sale, the general counsel directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Offerdahl sold 786 shares of Q2 stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the completion of the sale, the director directly owned 17,792 shares of the company’s stock, valued at $1,319,276.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,499 shares of company stock valued at $650,658. Company insiders own 3.00% of the company’s stock.

Q2 Stock Performance

Shares of QTWO opened at $60.61 on Wednesday. The stock has a fifty day moving average price of $70.81 and a two-hundred day moving average price of $80.49. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 1,212.46 and a beta of 1.48. Q2 Holdings, Inc. has a 52-week low of $58.57 and a 52-week high of $112.82.

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.