Penserra Capital Management LLC Purchases 876 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Penserra Capital Management LLC grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.2% in the third quarter, Holdings Channel reports. The fund owned 73,459 shares of the technology company’s stock after buying an additional 876 shares during the quarter. Penserra Capital Management LLC’s holdings in Q2 were worth $5,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Intech Investment Management LLC purchased a new stake in Q2 during the third quarter valued at $1,227,000. King Luther Capital Management Corp grew its stake in shares of Q2 by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 140,700 shares of the technology company’s stock worth $11,224,000 after buying an additional 604 shares in the last quarter. Moran Wealth Management LLC increased its holdings in shares of Q2 by 31.0% in the 3rd quarter. Moran Wealth Management LLC now owns 7,900 shares of the technology company’s stock worth $630,000 after buying an additional 1,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Q2 by 33.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 221,034 shares of the technology company’s stock valued at $17,632,000 after buying an additional 55,107 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Q2 by 3.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 266,079 shares of the technology company’s stock valued at $21,225,000 after acquiring an additional 9,976 shares during the last quarter.

Insider Buying and Selling at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 18,789 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 2,958 shares of company stock valued at $214,282. 3.00% of the stock is currently owned by corporate insiders.

Q2 Trading Up 1.4 %

Shares of QTWO opened at $106.37 on Monday. The company has a 50 day moving average price of $86.05 and a 200-day moving average price of $72.71. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a fifty-two week low of $34.59 and a fifty-two week high of $106.53.

Wall Street Analysts Forecast Growth

QTWO has been the topic of several analyst reports. Stephens boosted their price objective on Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Truist Financial restated a “buy” rating and set a $100.00 price target (up previously from $78.00) on shares of Q2 in a report on Thursday, November 7th. BTIG Research raised their price target on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Compass Point boosted their price objective 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. Finally, Piper Sandler raised their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.50.

Q2 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.