Jennison Associates LLC Has $121.06 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Jennison Associates LLC cut its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,517,634 shares of the technology company’s stock after selling 348,209 shares during the quarter. Jennison Associates LLC’s holdings in Q2 were worth $121,062,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC increased its stake in Q2 by 54.2% during 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 during the period. Natixis Advisors LLC raised its stake in shares of Q2 by 1.4% in the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock valued at $1,007,000 after purchasing an additional 237 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Q2 by 3.1% in the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock worth $824,000 after purchasing an additional 407 shares during the period. Arizona State Retirement System lifted its position in Q2 by 2.6% in the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock worth $998,000 after purchasing an additional 423 shares during the period. Finally, RiverPark Advisors LLC boosted its stake in Q2 by 9.6% during the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock worth $406,000 after buying an additional 591 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. BTIG Research raised their target price on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. DA Davidson upped their price target on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Truist Financial reiterated a “buy” rating and set a $100.00 price objective (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Insider Buying and Selling at Q2

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares in the company, valued at $29,927,075.50. This trade represents a 6.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 owns 227,672 shares in the company, valued at approximately $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. In the last three months, insiders have sold 30,963 shares of company stock worth $2,321,659. Company insiders own 3.00% of the company’s stock.

Q2 Price Performance

Shares of QTWO stock opened at $101.43 on Thursday. Q2 Holdings, Inc. has a 1 year low of $34.59 and a 1 year high of $105.00. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $84.16 and its 200-day moving average is $71.89.

Q2 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.