Assenagon Asset Management S.A. Buys 871,437 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Assenagon Asset Management S.A. grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1,043.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 954,979 shares of the technology company’s stock after acquiring an additional 871,437 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Q2 were worth $76,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in Q2 during the fourth quarter valued at $202,645,000. Massachusetts Financial Services Co. MA grew its stake in shares of Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after purchasing an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after purchasing an additional 655,838 shares during the period. Ameriprise Financial Inc. increased its position in shares of Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after purchasing an additional 520,649 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock worth $47,459,000 after purchasing an additional 424,062 shares during the period.

Analyst Ratings Changes

QTWO has been the topic of a number of research reports. Needham & Company LLC dropped their price objective on shares of Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Morgan Stanley increased their price target on shares of Q2 from $89.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Royal Bank of Canada cut their price objective on shares of Q2 from $108.00 to $101.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Truist Financial restated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Q2 has an average rating of “Moderate Buy” and an average target price of $99.50.

Insider Buying and Selling

In related news, General Counsel Michael S. Kerr sold 397 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the sale, the general counsel now directly owns 58,441 shares in the company, valued at approximately $5,429,168.90. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Michael A. Volanoski sold 1,166 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $90.55, for a total value of $105,581.30. Following the transaction, the executive now directly owns 177,240 shares of the company’s stock, valued at approximately $16,049,082. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,586 shares of company stock valued at $3,124,681. Corporate insiders own 0.31% of the company’s stock.

Q2 Stock Performance

NYSE QTWO opened at $89.18 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 Holdings, Inc. has a twelve month low of $55.97 and a twelve month high of $112.82. The business has a 50-day moving average price of $82.81 and a 200-day moving average price of $89.47. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -137.19 and a beta of 1.48.

Q2 Company 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.