Fred Alger Management LLC Has $52.81 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Fred Alger Management LLC cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 875,403 shares of the technology company’s stock after selling 138,484 shares during the period. Fred Alger Management LLC owned 1.45% of Q2 worth $52,813,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after purchasing an additional 169 shares during the period. Fidelis Capital Partners LLC bought a new position in Q2 during the 1st quarter worth $50,000. Quest Partners LLC acquired a new stake in shares of Q2 during the second quarter worth $153,000. SG Americas Securities LLC bought a new stake in shares of Q2 in the first quarter valued at about $173,000. Finally, nVerses Capital LLC acquired a new position in shares of Q2 in the second quarter valued at about $181,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research raised their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. DA Davidson downgraded Q2 from a “buy” rating to a “neutral” rating and upped their target price for the company from $65.00 to $76.00 in a research report on Wednesday, July 24th. Finally, Compass Point began coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $72.38.

Q2 Trading Down 1.2 %

QTWO opened at $78.55 on Wednesday. The company has a market cap of $4.73 billion, a P/E ratio of -58.18 and a beta of 1.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The company’s 50 day moving average is $71.56 and its 200-day moving average is $62.23. Q2 Holdings, Inc. has a 1-year low of $28.91 and a 1-year high of $82.72.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $172.89 million during the quarter, compared to analyst estimates of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. Equities research analysts predict that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Q2 news, insider Kimberly Anne Rutledge sold 1,953 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the transaction, the insider now directly owns 115,436 shares in the company, valued at approximately $7,503,340. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. The disclosure for this sale can be found here. Insiders have sold 54,916 shares of company stock worth $3,896,644 in the last 90 days. Insiders own 3.60% 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.