Synovus Financial Corp Increases Stock Position in Q2 Holdings, Inc. $QTWO

Synovus Financial Corp boosted its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 111.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,614 shares of the technology company’s stock after purchasing an additional 13,000 shares during the quarter. Synovus Financial Corp’s holdings in Q2 were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Q2 in the first quarter valued at approximately $33,000. NewEdge Advisors LLC raised its stake in shares of Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock worth $38,000 after acquiring an additional 275 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Q2 by 2,630.0% during the first quarter. Larson Financial Group LLC now owns 546 shares of the technology company’s stock worth $44,000 after acquiring an additional 526 shares in the last quarter. TCTC Holdings LLC raised its stake in shares of Q2 by 103.1% during the first quarter. TCTC Holdings LLC now owns 597 shares of the technology company’s stock worth $48,000 after acquiring an additional 303 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Q2 during the first quarter worth approximately $58,000.

Insider Transactions at Q2

In related news, insider John E. Breeden sold 6,105 shares of Q2 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 sale, the insider owned 149,643 shares in the company, valued at $11,263,628.61. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive owned 175,812 shares in the company, valued at approximately $15,626,170.56. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,485 shares of company stock worth $750,307. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on QTWO shares. Morgan Stanley lifted their price target on shares of Q2 from $89.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Royal Bank Of Canada lifted their price target on shares of Q2 from $101.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Q2 in a research note on Wednesday, June 18th. They set an “overweight” rating and a $115.00 price target on the stock. Robert W. Baird lifted their price target on shares of Q2 from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC lifted their price target on shares of Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Q2 Stock Performance

Shares of Q2 stock opened at $76.93 on Wednesday. Q2 Holdings, Inc. has a 52-week low of $63.61 and a 52-week high of $112.82. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 1,538.81 and a beta of 1.47. The company’s 50 day moving average price is $85.70 and its 200-day moving average price is $83.89.

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.