Cubist Systematic Strategies LLC Purchases 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 raised its position in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 100.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,718 shares of the technology company's stock after buying an additional 42,410 shares during the period. Cubist Systematic Strategies LLC owned 0.14% of Q2 worth $6,778,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of Q2 by 6.9% during the first quarter. Rhumbline Advisers now owns 87,324 shares of the technology company's stock worth $6,987,000 after purchasing an additional 5,672 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Q2 in the fourth quarter valued at approximately $140,000. SG Americas Securities LLC increased its stake in Q2 by 377.9% in the first quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $977,000 after purchasing an additional 9,658 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Q2 by 31.0% in the first quarter. Asset Management One Co. Ltd. now owns 2,445 shares of the technology company's stock valued at $196,000 after purchasing an additional 578 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Q2 in the first quarter valued at approximately $2,864,000.

Q2 Price Performance

QTWO stock traded up $1.64 during trading hours on Friday, reaching $78.91. The stock had a trading volume of 706,631 shares, compared to its average volume of 765,501. The stock has a market capitalization of $4.93 billion, a PE ratio of 1,578.42 and a beta of 1.49. The stock has a 50-day simple moving average of $83.47 and a 200 day simple moving average of $83.10. Q2 Holdings, Inc. has a fifty-two week low of $63.61 and a fifty-two week high of $112.82.

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 786 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total value of $58,281.90. Following the transaction, the director directly owned 17,792 shares of the company's stock, valued at $1,319,276.80. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Breeden sold 6,105 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $75.27, for a total transaction of $459,523.35. Following the completion of the transaction, the insider directly owned 149,643 shares in the company, valued at approximately $11,263,628.61. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,485 shares of company stock valued at $750,307. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on QTWO shares. Zacks Research upgraded shares of Q2 to a "strong-buy" rating in a report on Friday, August 8th. Royal Bank Of Canada upped their price target on shares of Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC upped their price target on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Q2 in a report on Wednesday, June 18th. They issued an "overweight" rating and a $115.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $102.25.

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.