The Manufacturers Life Insurance Company Has $43.64 Million Stake in Q2 Holdings, Inc. (NYSE:QTWO)

The Manufacturers Life Insurance Company trimmed its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 547,073 shares of the technology company’s stock after selling 68,570 shares during the period. The Manufacturers Life Insurance Company owned about 0.91% of Q2 worth $43,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after acquiring an additional 169 shares during the period. International Assets Investment Management LLC increased its stake in Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after buying an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in 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 during the last quarter. Quest Partners LLC acquired a new stake in Q2 in the 2nd quarter valued at $153,000. Finally, Marco Investment Management LLC acquired a new stake in Q2 in the 3rd quarter valued at $207,000.

Q2 Stock Performance

Shares of QTWO stock opened at $104.49 on Friday. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -108.84 and a beta of 1.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. The company has a 50-day simple moving average of $88.38 and a 200 day simple moving average of $73.84. Q2 Holdings, Inc. has a 52 week low of $35.20 and a 52 week high of $108.00.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QTWO. Needham & Company LLC lifted their price target on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research lifted their price target 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. Truist Financial reiterated a “buy” rating and issued a $100.00 price target (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. DA Davidson lifted their price objective on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Insider Buying and Selling

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,493 shares of company stock valued at $196,863. Company insiders own 3.00% of the company’s stock.

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.