42,308 Shares in Q2 Holdings, Inc. (NYSE:QTWO) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,308 shares of the technology company's stock, valued at approximately $4,258,000. Cubist Systematic Strategies LLC owned about 0.07% of Q2 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of Q2 in the fourth quarter worth about $202,645,000. Capital Research Global Investors lifted its holdings in Q2 by 11.2% in the 4th quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company's stock valued at $152,825,000 after purchasing an additional 152,872 shares in the last quarter. Geode Capital Management LLC grew its stake in Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company's stock valued at $140,175,000 after acquiring an additional 36,025 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company's stock valued at $135,449,000 after acquiring an additional 698,464 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock valued at $101,937,000 after acquiring an additional 520,649 shares in the last quarter.

Analysts Set New Price Targets

QTWO has been the subject of several analyst reports. Stephens reissued an "overweight" rating and issued a $115.00 price target on shares of Q2 in a research note on Thursday, February 13th. Truist Financial reaffirmed 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 increased their target price on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Raymond James lowered their price objective on Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup raised their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Q2 has a consensus rating of "Moderate Buy" and a consensus price target of $98.80.

Insider Buying and Selling at Q2

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the transaction, the insider now owns 113,278 shares of the company's stock, valued at $8,396,165.36. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,858 shares of company stock worth $14,853,965. 0.31% of the stock is owned by company insiders.

Q2 Stock Performance

NYSE QTWO traded down $1.05 during trading on Thursday, reaching $90.79. The company's stock had a trading volume of 142,419 shares, compared to its average volume of 648,611. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -139.73 and a beta of 1.47. Q2 Holdings, Inc. has a twelve month low of $55.97 and a twelve month high of $112.82. The business's fifty day moving average price is $78.17 and its 200-day moving average price is $90.31.

Q2 (NYSE:QTWO - Get Free Report) last posted its quarterly earnings data 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 negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, analysts anticipate that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.