Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 5.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 828,138 shares of the technology company’s stock after selling 47,265 shares during the quarter. Fred Alger Management LLC’s holdings in Q2 were worth $66,061,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Versor Investments LP acquired a new stake in shares of Q2 in the third quarter valued at about $590,000. DekaBank Deutsche Girozentrale grew its stake in shares of Q2 by 67.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock valued at $2,908,000 after buying an additional 22,400 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Q2 in the third quarter valued at about $80,788,000. Price T Rowe Associates Inc. MD grew its stake in shares of Q2 by 1,910.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after buying an additional 683,957 shares in the last quarter. Finally, Creative Planning grew its stake in Q2 by 62.5% during the 3rd quarter. Creative Planning now owns 19,834 shares of the technology company’s stock valued at $1,582,000 after purchasing an additional 7,631 shares in the last quarter.

Q2 Price Performance

Shares of QTWO opened at $104.49 on Friday. Q2 Holdings, Inc. has a 12-month low of $35.20 and a 12-month high of $108.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The stock’s 50-day moving average price is $88.38 and its 200 day moving average price is $73.84.

Wall Street Analysts Forecast Growth

QTWO has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Compass Point lifted their target price on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Piper Sandler lifted their price target on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price target on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Insider Transactions at Q2

In related news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,493 shares of company stock valued at $196,863. Corporate insiders own 3.00% 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.