Harvest Fund Management Co. Ltd Makes New Investment in Q2 Holdings, Inc. (NYSE:QTWO)

Harvest Fund Management Co. Ltd acquired a new stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 3,056 shares of the technology company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also modified their holdings of QTWO. Marco Investment Management LLC acquired a new stake in Q2 during the 3rd quarter worth approximately $207,000. Penserra Capital Management LLC raised its holdings in shares of Q2 by 1.2% during the third quarter. Penserra Capital Management LLC now owns 73,459 shares of the technology company’s stock worth $5,859,000 after acquiring an additional 876 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Q2 during the third quarter worth $1,227,000. King Luther Capital Management Corp lifted its position in Q2 by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 140,700 shares of the technology company’s stock valued at $11,224,000 after acquiring an additional 604 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Q2 by 31.0% in the 3rd quarter. Moran Wealth Management LLC now owns 7,900 shares of the technology company’s stock worth $630,000 after purchasing an additional 1,870 shares during the period.

Insider Transactions at Q2

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

Q2 Price Performance

Shares of NYSE QTWO opened at $106.99 on Wednesday. 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’s 50 day moving average price is $87.32 and its two-hundred day moving average price is $73.41. The company has a market cap of $6.46 billion, a PE ratio of -111.45 and a beta of 1.58. Q2 Holdings, Inc. has a twelve month low of $34.59 and a twelve month high of $108.00.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QTWO. Needham & Company LLC upped their price objective on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Q2 from $86.00 to $103.00 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 previously from $78.00) on shares of Q2 in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

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.