Oak Ridge Investments LLC Has $6.87 Million Stock Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Oak Ridge Investments LLC trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 68,244 shares of the technology company’s stock after selling 1,810 shares during the quarter. Oak Ridge Investments LLC’s holdings in Q2 were worth $6,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Conestoga Capital Advisors LLC increased its stake in shares of Q2 by 1.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after purchasing an additional 34,300 shares during the period. State Street Corp lifted its holdings in shares of 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. Geode Capital Management LLC boosted its position in shares of Q2 by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock valued at $107,963,000 after acquiring an additional 19,520 shares during the period. Hood River Capital Management LLC increased its position in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after acquiring an additional 67,757 shares during the period. Finally, Perpetual Ltd bought a new position in Q2 during the third quarter worth about $80,788,000.

Insider Transactions at Q2

In related news, President Kirk L. Coleman sold 10,428 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total value of $1,109,747.76. Following the sale, the president now owns 337,643 shares of the company’s stock, valued at $35,931,968.06. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 548 shares of the 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 completion of the sale, the director now owns 18,241 shares of the company’s stock, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,836 shares of company stock worth $3,061,035. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

QTWO has been the topic of a number of analyst reports. Robert W. Baird restated a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Citigroup lowered Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. Compass Point upped their target price on Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stephens raised their price target on Q2 from $75.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.07.

Q2 Trading Up 0.5 %

Shares of NYSE:QTWO opened at $93.84 on Friday. Q2 Holdings, Inc. has a one year low of $40.60 and a one year high of $112.82. 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 $102.24 and a 200 day simple moving average of $84.43.

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.