nVerses Capital LLC Buys New Position in Q2 Holdings, Inc. (NYSE:QTWO)

nVerses Capital LLC bought a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the technology company’s stock, valued at approximately $181,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after buying an additional 398,871 shares in the last quarter. Brown Capital Management LLC grew its stake in Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after purchasing an additional 11,000 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Q2 by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company’s stock valued at $137,184,000 after purchasing an additional 54,970 shares during the last quarter. Jennison Associates LLC grew its stake in Q2 by 14.6% during the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after purchasing an additional 235,582 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in Q2 during the 1st quarter valued at about $62,765,000.

Insider Buying and Selling

In related news, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the transaction, the director now owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, President Kirk L. Coleman sold 3,537 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of the transaction, the president now owns 352,177 shares of the company’s stock, valued at $21,574,363.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Offerdahl sold 1,013 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,161 shares of company stock valued at $6,476,195. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QTWO shares. Needham & Company LLC boosted their price target on Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research upped their target price on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada upped their target price on Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and an average price target of $70.83.

Q2 Stock Performance

NYSE QTWO opened at $74.21 on Monday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -54.97 and a beta of 1.54. Q2 Holdings, Inc. has a twelve month low of $28.91 and a twelve month high of $75.94. 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 stock has a 50-day moving average of $67.21 and a 200 day moving average of $58.72.

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.