Wellington Management Group LLP Buys 29,075 Shares of Q2 Holdings, Inc. $QTWO

Wellington Management Group LLP boosted its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 353,484 shares of the technology company’s stock after purchasing an additional 29,075 shares during the quarter. Wellington Management Group LLP’s holdings in Q2 were worth $17,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QTWO. Summit Creek Advisors LLC purchased a new position in Q2 during the second quarter valued at approximately $4,892,000. Bank of New York Mellon Corp acquired a new position in Q2 during the 2nd quarter valued at about $19,639,000. Handelsbanken Fonder AB increased its holdings in shares of Q2 by 1.5% during the second quarter. Handelsbanken Fonder AB now owns 232,860 shares of the technology company’s stock valued at $11,201,000 after acquiring an additional 3,544 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Q2 during the 2nd quarter valued at approximately $61,000. Finally, Central Pacific Bank Trust Division raised its stake in Q2 by 40.7% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,508 shares of the technology company’s stock worth $217,000 after acquiring an additional 1,304 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their price target on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Royal Bank Of Canada upped their price objective on shares of Q2 from $67.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Monday, August 31st. UBS Group set a $68.00 target price on Q2 in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Q2 from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.64.

Insider Activity

In related news, CFO Jonathan Price sold 77,180 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the completion of the transaction, the chief financial officer directly owned 207,633 shares in the company, valued at $13,643,564.43. This trade represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kimberly Rutledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the transaction, the insider directly owned 113,913 shares of the company’s stock, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is currently owned by corporate insiders.

Q2 Stock Down 0.1%

NYSE:QTWO opened at $62.06 on Monday. The company has a market capitalization of $3.87 billion, a P/E ratio of 44.33 and a beta of 1.33. Q2 Holdings, Inc. has a 52 week low of $40.79 and a 52 week high of $85.19. The stock’s fifty day moving average is $58.96 and its two-hundred day moving average is $51.78.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The company had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. During the same quarter last year, the firm posted $0.18 earnings per share. Q2’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Q2 Holdings, Inc. will post 1.84 earnings per share for the current fiscal year.

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.