Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC reduced its position in Q2 Holdings, Inc. (NYSE:QTWO) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,991,583 shares of the technology company’s stock after selling 368,181 shares during the quarter. Q2 comprises approximately 3.4% of Brown Capital Management LLC’s holdings, making the stock its 13th largest position. Brown Capital Management LLC’s holdings in Q2 were worth $158,869,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC raised its stake in shares of Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC increased its stake in Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after purchasing an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Q2 by 108.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after buying an additional 964 shares in the last quarter. Quest Partners LLC purchased a new stake in Q2 in the second quarter valued at $153,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Q2 in the 1st quarter valued at about $173,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BTIG Research raised their price objective on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada lifted their price objective on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. DA Davidson raised their target price on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC increased their target price on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price target on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Q2 Stock Performance

Q2 stock opened at $101.43 on Thursday. Q2 Holdings, Inc. has a 12 month low of $34.59 and a 12 month high of $105.00. The company has a fifty day moving average price of $84.76 and a two-hundred day moving average price of $72.10. 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 company has a market cap of $6.13 billion, a PE ratio of -105.66 and a beta of 1.58.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the transaction, the director now owns 18,789 shares in the company, valued at approximately $1,389,822.33. The trade was a 5.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the transaction, the director now owns 397,702 shares of the company’s stock, valued at $29,927,075.50. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,963 shares of company stock valued at $2,321,659. Insiders own 3.00% of the company’s stock.

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.