Peregrine Capital Management LLC Raises Stock Position in Q2 Holdings, Inc. $QTWO

Peregrine Capital Management LLC raised its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,895 shares of the technology company’s stock after buying an additional 1,676 shares during the quarter. Peregrine Capital Management LLC’s holdings in Q2 were worth $9,256,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strs Ohio purchased a new stake in shares of Q2 during the first quarter worth $4,329,000. Sheets Smith Wealth Management purchased a new stake in shares of Q2 during the second quarter worth $511,000. Mutual of America Capital Management LLC grew its holdings in shares of Q2 by 34.6% during the second quarter. Mutual of America Capital Management LLC now owns 57,640 shares of the technology company’s stock worth $5,395,000 after buying an additional 14,820 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Q2 by 67.0% during the first quarter. Intech Investment Management LLC now owns 34,561 shares of the technology company’s stock worth $2,765,000 after buying an additional 13,866 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Q2 by 31.0% during the first quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company’s stock worth $196,000 after buying an additional 578 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QTWO. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Friday, September 26th. JPMorgan Chase & Co. dropped their price objective on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Stifel Nicolaus dropped their price objective on shares of Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, Zacks Research lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.69.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 967 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $82.60, for a total transaction of $79,874.20. Following the sale, the general counsel owned 56,228 shares of the company’s stock, valued at approximately $4,644,432.80. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Breeden sold 6,105 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the sale, the insider directly owned 149,643 shares in the company, valued at $11,263,628.61. This represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,499 shares of company stock valued at $650,658. 0.31% of the stock is currently owned by corporate insiders.

Q2 Trading Down 0.1%

Shares of QTWO opened at $62.22 on Tuesday. The firm has a 50-day moving average price of $72.64 and a 200 day moving average price of $81.02. Q2 Holdings, Inc. has a 12-month low of $58.57 and a 12-month high of $112.82. The firm has a market capitalization of $3.88 billion, a P/E ratio of 1,244.55 and a beta of 1.47.

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.