Q2 Holdings, Inc. (NYSE:QTWO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in Q2 Holdings, Inc. (NYSE:QTWO) by 39.5% during the 4th quarter, according to 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 quarter. Renaissance Technologies LLC’s holdings in Q2 were worth $4,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Trek Financial LLC purchased a new stake in shares of Q2 during the 4th quarter worth about $346,000. Russell Investments Group Ltd. lifted its holdings in shares of Q2 by 21.7% during the 4th quarter. Russell Investments Group Ltd. now owns 33,489 shares of the technology company’s stock valued at $3,371,000 after acquiring an additional 5,965 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Q2 by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,356 shares of the technology company’s stock worth $9,799,000 after purchasing an additional 1,622 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Q2 in the fourth quarter valued at about $299,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Q2 in the fourth quarter valued at about $586,000.

Q2 Price Performance

Shares of NYSE:QTWO opened at $72.28 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $79.72 and its two-hundred day moving average is $90.33. The firm has a market capitalization of $4.39 billion, a P/E ratio of -111.20 and a beta of 1.61. Q2 Holdings, Inc. has a 52 week low of $50.04 and a 52 week high of $112.82.

Q2 (NYSE:QTWO) last issued its quarterly earnings results 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%. Analysts anticipate that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QTWO. Stifel Nicolaus lifted their price objective on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Stephens restated an “overweight” rating and set a $115.00 price objective on shares of Q2 in a research note on Thursday, February 13th. The Goldman Sachs Group cut their target price on Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Royal Bank of Canada lifted their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

Insider Buying and Selling

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock valued at $14,853,965 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

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.