Geode Capital Management LLC Buys 19,520 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Geode Capital Management LLC increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,353,156 shares of the technology company’s stock after purchasing an additional 19,520 shares during the quarter. Geode Capital Management LLC’s holdings in Q2 were worth $107,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Q2 by 104.0% during the 3rd quarter. Barclays PLC now owns 163,138 shares of the technology company’s stock worth $13,012,000 after purchasing an additional 83,181 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Q2 in the third quarter worth $576,000. State Street Corp boosted its stake in Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after buying an additional 5,000 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Q2 by 12.1% in the 3rd quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock valued at $514,000 after buying an additional 698 shares during the period. Finally, Quarry LP raised its stake in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after buying an additional 336 shares in the last quarter.

Q2 Stock Performance

Shares of Q2 stock opened at $102.34 on Thursday. 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 firm has a 50 day simple moving average of $96.06 and a 200 day simple moving average of $78.28. Q2 Holdings, Inc. has a fifty-two week low of $39.66 and a fifty-two week high of $112.82. The firm has a market cap of $6.18 billion, a P/E ratio of -106.60 and a beta of 1.60.

Insider Activity

In other Q2 news, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.12, for a total transaction of $543,652.76. Following the sale, the executive now directly owns 218,371 shares of the company’s stock, valued at $23,173,530.52. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,836 shares of company stock valued at $3,061,035. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Compass Point upped their price objective on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stephens upped their price target on Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, BTIG Research increased their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.80.

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.