Massachusetts Financial Services Co. MA Trims Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Massachusetts Financial Services Co. MA reduced its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 19.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 647,277 shares of the technology company’s stock after selling 157,601 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Q2 were worth $51,633,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC increased its position in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC increased its holdings in Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. raised its stake in 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. Quest Partners LLC purchased a new stake in Q2 during the second quarter worth $153,000. Finally, nVerses Capital LLC bought a new stake in Q2 during the 2nd quarter valued at $181,000.

Q2 Trading Up 1.4 %

Shares of QTWO stock opened at $106.37 on Monday. The stock has a 50 day simple moving average of $86.05 and a 200-day simple moving average of $72.71. Q2 Holdings, Inc. has a 1-year low of $34.59 and a 1-year high of $106.53. The company has a market cap of $6.42 billion, a price-to-earnings ratio of -110.80 and a beta of 1.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on QTWO shares. Piper Sandler upped their price objective on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Compass Point increased their price target on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the sale, the director now owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,958 shares of company stock valued at $214,282 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

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.