PDT Partners LLC Raises Holdings in Q2 Holdings, Inc. $QTWO

Key Points

• PDT Partners LLC significantly increased its stake in Q2 Holdings, owning 57,010 shares after acquiring 53,500 additional shares in Q1, valuing their investment at approximately $4.56 million.
• Several other institutional investors, including Rhumbline Advisers and SG Americas Securities LLC, also raised their positions in Q2 Holdings, indicating growing institutional confidence in the stock.
• Analysts have mixed perspectives on Q2 Holdings, with target price estimates ranging from $90 to $115, resulting in a consensus rating of "Moderate Buy." The stock is currently trading at around $78.84.

PDT Partners LLC increased its position in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 1,524.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,010 shares of the technology company's stock after buying an additional 53,500 shares during the quarter. PDT Partners LLC owned about 0.09% of Q2 worth $4,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FJ Capital Management LLC purchased a new stake in shares of Q2 in the first quarter worth approximately $323,000. Cubist Systematic Strategies LLC grew its holdings in Q2 by 100.2% during the first quarter. Cubist Systematic Strategies LLC now owns 84,718 shares of the technology company's stock valued at $6,778,000 after purchasing an additional 42,410 shares during the period. Graham Capital Management L.P. bought a new position in shares of Q2 in the first quarter worth $692,000. DRW Securities LLC bought a new position in shares of Q2 in the first quarter worth $254,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Q2 by 30.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 565,503 shares of the technology company's stock worth $45,246,000 after purchasing an additional 132,038 shares in the last quarter.

Q2 Stock Up 2.1%

Shares of QTWO traded up $1.64 during trading hours on Friday, reaching $78.91. 706,631 shares of the company traded hands, compared to its average volume of 765,501. Q2 Holdings, Inc. has a 12 month low of $63.61 and a 12 month high of $112.82. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,578.42 and a beta of 1.49. The company's fifty day moving average price is $83.47 and its two-hundred day moving average price is $83.16.

Insider Buying and Selling

In related news, Director James Offerdahl sold 786 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total value of $58,281.90. Following the sale, the director owned 17,792 shares in the company, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the transaction, the executive directly owned 175,812 shares of the company's stock, valued at $15,626,170.56. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,485 shares of company stock worth $750,307 in the last 90 days. Insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QTWO shares. JPMorgan Chase & Co. started coverage on Q2 in a research note on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price objective for the company. Zacks Research raised Q2 to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 8th. Royal Bank Of Canada lifted their price objective on Q2 from $101.00 to $102.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC lifted their price objective on Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

Q2 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.