Renaissance Technologies LLC Increases Stock Holdings in Q2 Holdings, Inc. $QTWO

Renaissance Technologies LLC grew its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 136.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,900 shares of the technology company’s stock after purchasing an additional 123,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.34% of Q2 worth $10,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of QTWO. Headlands Technologies LLC acquired a new position in shares of Q2 in the 2nd quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Q2 during the 4th quarter worth $27,000. Root Financial Partners LLC purchased a new stake in Q2 in the first quarter valued at $25,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after acquiring an additional 539 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on QTWO shares. JPMorgan Chase & Co. decreased their price objective on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Morgan Stanley lifted their target price on Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday. Stifel Nicolaus boosted their target price on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings raised Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, DA Davidson restated a “buy” rating and set a $82.00 price target on shares of Q2 in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Q2 Price Performance

Shares of NYSE:QTWO opened at $61.00 on Monday. Q2 Holdings, Inc. has a 1-year low of $40.79 and a 1-year high of $90.08. The stock has a market cap of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.30. The firm has a fifty day moving average price of $49.57 and a 200 day moving average price of $51.37.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. Sell-side analysts expect that Q2 Holdings, Inc. will post 1.73 EPS for the current fiscal year.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.