Cubist Systematic Strategies LLC Buys 42,410 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Cubist Systematic Strategies LLC increased its stake in Q2 Holdings, Inc. by 100.2% in Q1, owning 84,718 shares valued at $6.78 million.
• Insiders have sold a total of 9,485 shares of Q2 stock in the last 90 days, indicating a 3% ownership reduction among company insiders.
• Q2 Holdings recently received upgrades from analysts, with Zacks Research rating the stock as a "strong-buy", and it holds an average target price of $102.25.

Cubist Systematic Strategies LLC lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 100.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,718 shares of the technology company's stock after purchasing an additional 42,410 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.14% of Q2 worth $6,778,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QTWO. Invesco Ltd. lifted its holdings in Q2 by 2.3% in the first quarter. Invesco Ltd. now owns 2,675,224 shares of the technology company's stock valued at $214,045,000 after buying an additional 60,958 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Q2 by 1.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,957,893 shares of the technology company's stock worth $156,651,000 after buying an additional 30,480 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Q2 by 28.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company's stock worth $137,948,000 after buying an additional 378,394 shares during the period. Jennison Associates LLC boosted its holdings in shares of Q2 by 3.3% during the 1st quarter. Jennison Associates LLC now owns 1,301,772 shares of the technology company's stock worth $104,155,000 after buying an additional 41,412 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company's stock worth $101,937,000 after buying an additional 520,649 shares during the period.

Analysts Set New Price Targets

QTWO has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Q2 in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 target price for the company. Stifel Nicolaus increased their price objective on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Zacks Research raised shares of Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Finally, Cantor Fitzgerald began coverage on shares of Q2 in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Insider Activity

In other news, Director James Offerdahl sold 786 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the sale, the director directly owned 17,792 shares of the company's stock, valued at approximately $1,319,276.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the transaction, the executive directly owned 175,812 shares in the company, valued at approximately $15,626,170.56. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,485 shares of company stock valued at $750,307. 3.00% of the stock is currently owned by insiders.

Q2 Stock Performance

Shares of NYSE:QTWO traded up $5.29 during trading on Monday, reaching $84.10. The stock had a trading volume of 845,899 shares, compared to its average volume of 715,525. The firm's fifty day moving average is $83.47 and its 200 day moving average is $83.05. Q2 Holdings, Inc. has a 52 week low of $63.61 and a 52 week high of $112.82. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 1,681.46 and a beta of 1.49.

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.