Handelsbanken Fonder AB Buys 188,600 Shares of Q2 Holdings, Inc. $QTWO

Handelsbanken Fonder AB grew its position in Q2 Holdings, Inc. (NYSE:QTWO) by 35.9% in the third quarter, Holdings Channel reports. The fund owned 713,816 shares of the technology company’s stock after acquiring an additional 188,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Q2 were worth $51,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Q2 by 13.5% in the third quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock valued at $572,772,000 after buying an additional 941,672 shares during the period. Invesco Ltd. increased its position in Q2 by 4.8% in the 2nd quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock valued at $262,390,000 after acquiring an additional 128,387 shares during the period. Wasatch Advisors LP increased its position in Q2 by 1.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,098,037 shares of the technology company’s stock valued at $196,355,000 after acquiring an additional 25,493 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Q2 by 11.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,039,416 shares of the technology company’s stock valued at $147,633,000 after acquiring an additional 213,415 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Q2 by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,470,279 shares of the technology company’s stock worth $137,620,000 after purchasing an additional 26,858 shares during the period.

Insider Transactions at Q2

In other Q2 news, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $630,627.12. Following the completion of the sale, the insider owned 269,128 shares in the company, valued at approximately $19,829,351.04. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the transaction, the executive directly owned 166,512 shares in the company, valued at $12,564,995.52. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,883 shares of company stock valued at $1,547,778 over the last ninety days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on QTWO shares. Truist Financial lowered their target price on Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Wall Street Zen upgraded Q2 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Q2 in a report on Thursday, January 22nd. Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Needham & Company LLC dropped their price target on shares of Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Price Performance

Shares of Q2 stock opened at $48.01 on Friday. The business has a 50-day simple moving average of $62.83 and a 200 day simple moving average of $68.75. Q2 Holdings, Inc. has a one year low of $46.16 and a one year high of $96.68. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 60.77 and a beta of 1.36.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.