Rockefeller Capital Management L.P. Acquires Shares of 123,442 Q2 Holdings, Inc. (NYSE:QTWO)

Rockefeller Capital Management L.P. bought a new position in Q2 Holdings, Inc. (NYSE:QTWO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 123,442 shares of the technology company’s stock, valued at approximately $9,847,000. Rockefeller Capital Management L.P. owned about 0.20% of Q2 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QTWO. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Q2 by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,307 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 1,584 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Q2 by 32.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 7,475 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Q2 in the third quarter worth about $244,000. Marco Investment Management LLC bought a new stake in Q2 during the third quarter worth approximately $207,000. Finally, Penserra Capital Management LLC raised its position in Q2 by 1.2% during the third quarter. Penserra Capital Management LLC now owns 73,459 shares of the technology company’s stock valued at $5,859,000 after purchasing an additional 876 shares during the period.

Q2 Trading Up 2.4 %

Shares of NYSE QTWO opened at $109.18 on Wednesday. Q2 Holdings, Inc. has a twelve month low of $36.93 and a twelve month high of $111.85. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $90.00 and a two-hundred day simple moving average of $74.96. The firm has a market cap of $6.59 billion, a PE ratio of -113.73 and a beta of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on QTWO shares. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $72.00 to $90.00 in a research report on Friday, October 18th. BTIG Research increased their target price on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Compass Point lifted their price target on shares of Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial reissued a “buy” rating and issued a $100.00 price objective (up from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Finally, DA Davidson boosted their target price on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Insider Activity at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,493 shares of company stock worth $196,863 over the last three months. 3.00% of the stock is owned by corporate insiders.

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.