Renaissance Technologies LLC Has $4.74 Million Position in Q2 Holdings, Inc. (NYSE:QTWO)

Renaissance Technologies LLC lessened its stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,100 shares of the technology company's stock after selling 30,800 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Q2 worth $4,741,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QTWO. Highland Capital Management LLC raised its position in Q2 by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company's stock valued at $279,000 after buying an additional 172 shares during the period. Arizona State Retirement System grew its stake in Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company's stock valued at $1,761,000 after acquiring an additional 190 shares in the last quarter. Moran Wealth Management LLC increased its holdings in shares of Q2 by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company's stock valued at $817,000 after purchasing an additional 215 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Q2 in the fourth quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Q2 during the fourth quarter worth approximately $30,000.

Q2 Price Performance

Q2 stock traded up $2.46 during trading hours on Wednesday, hitting $77.42. 535,418 shares of the stock were exchanged, compared to its average volume of 652,159. The stock has a market capitalization of $4.70 billion, a P/E ratio of -119.11 and a beta of 1.61. The business's 50-day moving average is $79.36 and its two-hundred day moving average is $90.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. Q2 Holdings, Inc. has a 12 month low of $50.91 and a 12 month high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Equities research analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QTWO. Citigroup upped their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Truist Financial reissued a "buy" rating and set a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Robert W. Baird reaffirmed a "neutral" rating and issued a $99.00 target price (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. The Goldman Sachs Group reduced their price target on Q2 from $119.00 to $106.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Stifel Nicolaus increased their price objective on Q2 from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.33.

Insider Activity

In related news, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares in the company, valued at $35,527,299.72. The trade was a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is owned by corporate insiders.

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.