Royal Bank of Canada Purchases 91,820 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Royal Bank of Canada raised its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 623,139 shares of the technology company’s stock after acquiring an additional 91,820 shares during the period. Royal Bank of Canada’s holdings in Q2 were worth $62,719,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QTWO. William Blair Investment Management LLC bought a new stake in Q2 in the fourth quarter valued at $202,645,000. Massachusetts Financial Services Co. MA grew its position in Q2 by 107.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after acquiring an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after acquiring an additional 655,838 shares during the period. Ameriprise Financial Inc. grew its position in Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after acquiring an additional 520,649 shares during the period. Finally, Franklin Resources Inc. grew its position in Q2 by 893.5% in the fourth quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock valued at $47,459,000 after acquiring an additional 424,062 shares during the period.

Insider Activity

In other news, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan Price sold 42,652 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total value of $3,172,029.24. Following the transaction, the chief financial officer now directly owns 209,378 shares in the company, valued at $15,571,441.86. This trade represents a 16.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,255 shares of company stock valued at $14,890,846 over the last 90 days. 0.31% of the stock is owned by company insiders.

Q2 Trading Down 0.1%

Shares of QTWO opened at $89.91 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a 12-month low of $55.97 and a 12-month high of $112.82. The firm has a market capitalization of $5.60 billion, a PE ratio of -138.32 and a beta of 1.47. The stock’s fifty day simple moving average is $79.49 and its 200-day simple moving average is $90.51.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QTWO shares. Royal Bank of Canada reduced their price objective on Q2 from $108.00 to $101.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. Citigroup boosted their price objective on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC reduced their price objective on Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price objective on Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Stifel Nicolaus boosted their price objective on Q2 from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Q2 has an average rating of “Moderate Buy” and a consensus price target of $98.80.

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.