Bank of America Corp DE lowered its position in Q2 Holdings, Inc. (NYSE:QTWO) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,663 shares of the technology company’s stock after selling 31,802 shares during the period. Bank of America Corp DE’s holdings in Q2 Holdings were worth $2,393,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in QTWO. SG Americas Securities LLC acquired a new stake in shares of Q2 Holdings during the first quarter worth $109,000. Aberdeen Asset Management PLC UK bought a new stake in Q2 Holdings during the first quarter worth about $204,000. Arcus Capital Partners LLC bought a new stake in Q2 Holdings during the first quarter worth about $221,000. Highbridge Capital Management LLC bought a new stake in Q2 Holdings during the fourth quarter worth about $235,000. Finally, Blair William & Co. IL bought a new stake in Q2 Holdings during the first quarter worth about $243,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Q2 Holdings, Inc. (QTWO) traded up 1.24% on Friday, reaching $36.70. The company’s stock had a trading volume of 85,024 shares. The stock’s market capitalization is $1.52 billion. Q2 Holdings, Inc. has a 1-year low of $25.23 and a 1-year high of $40.50. The stock has a 50-day moving average of $37.85 and a 200 day moving average of $36.67.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Q2 Holdings from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Wednesday. ValuEngine upgraded shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity reiterated a “buy” rating and set a $43.00 price target on shares of Q2 Holdings in a research report on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Q2 Holdings in a research report on Friday, May 5th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Q2 Holdings in a research report on Monday, June 26th. They set a “buy” rating and a $45.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Q2 Holdings has a consensus rating of “Buy” and an average target price of $42.13.
In other Q2 Holdings news, insider William M. Furrer sold 13,771 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $39.92, for a total value of $549,738.32. Following the sale, the insider now directly owns 53,280 shares in the company, valued at approximately $2,126,937.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Barry G. Benton sold 4,083 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $37.49, for a total transaction of $153,071.67. Following the completion of the sale, the senior vice president now owns 24,820 shares in the company, valued at $930,501.80. The disclosure for this sale can be found here. Insiders sold a total of 380,277 shares of company stock worth $14,461,224 over the last quarter. 24.50% of the stock is currently owned by company insiders.
About Q2 Holdings
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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