Jennison Associates LLC Has $126.86 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC cut its stake in Q2 Holdings, Inc. (NYSE:QTWO) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,260,360 shares of the technology company’s stock after selling 257,274 shares during the period. Jennison Associates LLC’s holdings in Q2 were worth $126,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Highland Capital Management LLC raised its position in shares of Q2 by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after acquiring an additional 172 shares during the last quarter. Parallax Volatility Advisers L.P. increased its position in Q2 by 5.5% in the third 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 period. Quarry LP raised its stake in shares of Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after buying an additional 336 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Q2 by 0.4% in 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 acquiring an additional 604 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Q2 by 12.1% during the 3rd quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock worth $514,000 after acquiring an additional 698 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QTWO. Piper Sandler raised their price target on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Compass Point increased their target price on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Q2 from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average price target of $98.07.

Q2 Stock Performance

NYSE QTWO opened at $94.96 on Monday. Q2 Holdings, Inc. has a 12 month low of $40.60 and a 12 month high of $112.82. The stock has a 50 day moving average of $101.06 and a 200-day moving average of $86.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Insider Activity

In other Q2 news, Director James Offerdahl sold 548 shares of the company’s stock in a transaction 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 in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 4,178 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $442,868.00. Following the sale, the executive now owns 223,494 shares of the company’s stock, valued at approximately $23,690,364. This represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is owned by company insiders.

Q2 Profile

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.