Q2 Holdings, Inc. (NYSE:QTWO) Stock Position Decreased by Jennison Associates LLC

Jennison Associates LLC decreased its position in Q2 Holdings, Inc. (NYSE:QTWO) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,260,360 shares of the technology company’s stock after selling 257,274 shares during the quarter. Jennison Associates LLC owned about 2.09% of Q2 worth $126,855,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in QTWO. Highland Capital Management LLC lifted its position in shares of Q2 by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after buying an additional 172 shares during the last quarter. Parallax Volatility Advisers L.P. lifted its holdings in Q2 by 5.5% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock worth $443,000 after purchasing an additional 288 shares during the last quarter. Quarry LP boosted its position in Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the period. King Luther Capital Management Corp grew its holdings in Q2 by 0.4% during the third quarter. King Luther Capital Management Corp now owns 140,700 shares of the technology company’s stock valued at $11,224,000 after purchasing an additional 604 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Q2 by 12.1% in the third quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock valued at $514,000 after purchasing an additional 698 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QTWO. Royal Bank of Canada raised their target price on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $100.00 price target (up from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Morgan Stanley boosted their price objective on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Q2 Stock Performance

Shares of Q2 stock opened at $94.96 on Monday. Q2 Holdings, Inc. has a 52-week low of $40.60 and a 52-week high of $112.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The company’s fifty day moving average price is $101.06 and its two-hundred day moving average price is $86.75.

Insider Activity

In related news, CRO Michael A. Volanoski sold 4,178 shares of Q2 stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the transaction, the executive now directly owns 223,494 shares of the company’s stock, valued at $23,690,364. This trade represents a 1.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 548 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,836 shares of company stock worth $3,061,035. 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.