Mutual of America Capital Management LLC Has $5.40 Million Stake in Q2 Holdings, Inc. $QTWO

Mutual of America Capital Management LLC lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 34.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,640 shares of the technology company’s stock after purchasing an additional 14,820 shares during the period. Mutual of America Capital Management LLC’s holdings in Q2 were worth $5,395,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Q2 by 2.3% during the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company’s stock worth $214,045,000 after purchasing an additional 60,958 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Q2 by 28.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock worth $137,948,000 after purchasing an additional 378,394 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Q2 by 3.3% during the first quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company’s stock worth $104,155,000 after purchasing an additional 41,412 shares in the last quarter. Perpetual Ltd lifted its position in shares of Q2 by 4.7% during the first quarter. Perpetual Ltd now owns 787,636 shares of the technology company’s stock worth $63,019,000 after purchasing an additional 35,660 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Q2 by 5.4% during the first quarter. Federated Hermes Inc. now owns 746,938 shares of the technology company’s stock worth $59,763,000 after purchasing an additional 38,315 shares in the last quarter.

Q2 Price Performance

Shares of NYSE QTWO opened at $62.67 on Wednesday. The company’s 50 day simple moving average is $73.73 and its 200 day simple moving average is $81.24. Q2 Holdings, Inc. has a fifty-two week low of $58.57 and a fifty-two week high of $112.82. The firm has a market capitalization of $3.91 billion, a P/E ratio of 1,253.73 and a beta of 1.47.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QTWO. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Needham & Company LLC increased their price objective on shares of Q2 from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Royal Bank Of Canada increased their price objective on shares of Q2 from $101.00 to $102.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.69.

Insider Activity

In other Q2 news, General Counsel Michael S. Kerr sold 967 shares of Q2 stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $82.60, for a total transaction of $79,874.20. Following the transaction, the general counsel directly owned 56,228 shares in the company, valued at approximately $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total value of $459,523.35. Following the transaction, the insider owned 149,643 shares in the company, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,499 shares of company stock valued at $650,658 in the last quarter. Company insiders own 3.00% of the company’s stock.

Q2 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.