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

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

Other large investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Q2 in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in Q2 in the 4th quarter worth approximately $30,000. TCTC Holdings LLC purchased a new stake in shares of Q2 during the fourth quarter valued at approximately $30,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Q2 during the fourth quarter worth $32,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Q2 during the 4th quarter worth $137,000.

Insiders Place Their Bets

In related news, CRO Michael A. Volanoski sold 15,005 shares of Q2 stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $1,112,170.60. Following the transaction, the executive now directly owns 197,966 shares of the company's stock, valued at $14,673,239.92. The trade was a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Flake sold 36,023 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the transaction, the chief executive officer now owns 485,666 shares of the company's stock, valued at approximately $39,023,263.10. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QTWO has been the subject of several recent analyst reports. Compass Point restated a "neutral" rating and set a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Stephens restated an "overweight" rating and set a $115.00 price objective on shares of Q2 in a research note on Thursday, February 13th. Needham & Company LLC upped their target price on Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Truist Financial reissued a "buy" rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price target on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.33.

Q2 Stock Performance

NYSE QTWO traded up $0.06 on Friday, hitting $79.04. The stock had a trading volume of 413,183 shares, compared to its average volume of 651,518. The company's 50-day moving average is $78.55 and its two-hundred day moving average is $90.12. Q2 Holdings, Inc. has a one year low of $50.91 and a one year high of $112.82. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -121.60 and a beta of 1.61. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

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

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.