Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 33.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,034 shares of the technology company’s stock after buying an additional 55,107 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Q2 worth $17,632,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC increased its stake in shares of 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 purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC increased its position in Q2 by 7,878.3% during 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 in the last quarter. Asset Management One Co. Ltd. raised its stake in Q2 by 108.1% during the third 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 bought a new stake in Q2 in the second quarter worth $153,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Q2 in the first quarter worth $173,000.

Insider Activity

In related news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,331,671.80. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 227,672 shares of the company’s stock, 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. Insiders sold a total of 30,963 shares of company stock valued at $2,321,659 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on QTWO shares. The Goldman Sachs Group increased their price objective on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stephens raised their price target on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Q2 Stock Up 1.8 %

Shares of QTWO stock opened at $101.43 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 Holdings, Inc. has a 12 month low of $34.59 and a 12 month high of $105.00. The company has a 50 day simple moving average of $84.16 and a two-hundred day simple moving average of $71.89.

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.