Renaissance Technologies LLC raised its holdings in Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 136.1% during the first quarter, according to its most recent filing 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’s holdings in Q2 were worth $10,117,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the business. Keebeck Wealth Management lifted its holdings in shares of Q2 by 13.6% in the 1st quarter. Keebeck Wealth Management now owns 6,883 shares of the technology company’s stock valued at $326,000 after buying an additional 826 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after acquiring an additional 300,375 shares during the period. Walleye Capital LLC acquired a new position in Q2 during the first quarter worth $1,376,000. First Trust Advisors LP raised its position in Q2 by 16.8% in the first quarter. First Trust Advisors LP now owns 349,322 shares of the technology company’s stock worth $16,523,000 after acquiring an additional 50,335 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Q2 by 18.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,348 shares of the technology company’s stock valued at $348,000 after acquiring an additional 1,153 shares during the period.
Q2 Trading Up 0.2%
NYSE:QTWO opened at $61.00 on Monday. The company has a market capitalization of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.30. The firm has a 50-day moving average price of $49.57 and a two-hundred day moving average price of $51.37. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $90.08.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd. Morgan Stanley upped their target price on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of Q2 in a report on Thursday, July 23rd. Stifel Nicolaus raised their price objective on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.
Check Out Our Latest Stock Analysis on Q2
Q2 Profile
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.
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