Aberdeen Group plc Cuts Stake in Q2 Holdings, Inc. $QTWO

Aberdeen Group plc lowered its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 313,706 shares of the technology company’s stock after selling 23,692 shares during the period. Aberdeen Group plc’s holdings in Q2 were worth $23,208,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Q2 by 4.8% in the second 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 last quarter. Wasatch Advisors LP increased its stake in shares of Q2 by 1.2% during the 2nd quarter. Wasatch Advisors LP now owns 2,098,037 shares of the technology company’s stock worth $196,355,000 after purchasing an additional 25,493 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Q2 by 11.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,039,416 shares of the technology company’s stock worth $147,633,000 after purchasing an additional 213,415 shares during the period. Geode Capital Management LLC lifted its stake in Q2 by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,470,279 shares of the technology company’s stock valued at $137,620,000 after purchasing an additional 26,858 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Q2 by 3.1% during the second quarter. Jennison Associates LLC now owns 1,342,772 shares of the technology company’s stock valued at $125,670,000 after purchasing an additional 41,000 shares during the period.

Analyst Ratings Changes

QTWO has been the topic of several research reports. Stephens set a $90.00 target price on Q2 in a research note on Friday, January 16th. Stifel Nicolaus set a $75.00 price objective on Q2 in a research note on Thursday, February 12th. Truist Financial dropped their price objective on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Zacks Research upgraded shares of Q2 from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Cantor Fitzgerald lowered their price target on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.79.

Q2 Stock Down 1.3%

Shares of NYSE QTWO opened at $52.53 on Wednesday. The company has a market cap of $3.28 billion, a P/E ratio of 66.49 and a beta of 1.36. Q2 Holdings, Inc. has a 52 week low of $51.34 and a 52 week high of $96.68. The business has a 50-day simple moving average of $66.85 and a two-hundred day simple moving average of $70.14.

Insider Activity

In related news, COO Himagiri K. Mukkamala sold 3,024 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $222,808.32. Following the sale, the chief operating officer owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Michael A. Volanoski sold 5,123 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the sale, the executive owned 166,512 shares in the company, valued at $12,564,995.52. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 20,883 shares of company stock worth $1,547,778. 0.31% of the stock is owned by company insiders.

About Q2

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.