Millennium Management LLC lowered its position in Q2 Holdings (NYSE:QTWO) by 21.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,659 shares of the technology company’s stock after selling 41,476 shares during the quarter. Millennium Management LLC’s holdings in Q2 were worth $5,625,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QTWO. Jefferies Group LLC bought a new position in shares of Q2 in the fourth quarter worth $201,000. Virtu Financial LLC bought a new position in shares of Q2 in the fourth quarter worth $205,000. HBK Investments L P increased its holdings in shares of Q2 by 65.0% in the fourth quarter. HBK Investments L P now owns 9,900 shares of the technology company’s stock worth $365,000 after purchasing an additional 3,900 shares during the period. California Public Employees Retirement System bought a new position in shares of Q2 in the third quarter worth $367,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Q2 in the fourth quarter worth $397,000. 90.04% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, CEO Matthew P. Flake sold 45,150 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $43.13, for a total transaction of $1,947,319.50. Following the transaction, the chief executive officer now directly owns 201,761 shares of the company’s stock, valued at $8,701,951.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William M. Furrer sold 11,132 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $43.73, for a total value of $486,802.36. Following the transaction, the insider now directly owns 40,164 shares in the company, valued at $1,756,371.72. The disclosure for this sale can be found here. Insiders have sold 355,963 shares of company stock worth $15,862,722 over the last ninety days. Insiders own 24.50% of the company’s stock.

QTWO has been the topic of several research analyst reports. Zacks Investment Research cut shares of Q2 from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Needham & Company LLC increased their target price on Q2 from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Morgan Stanley increased their target price on Q2 from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. ValuEngine raised Q2 from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price on shares of Q2 in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Q2 currently has an average rating of “Buy” and an average price target of $46.58.

QTWO opened at $47.50 on Tuesday. Q2 Holdings has a 52 week low of $31.95 and a 52 week high of $48.75.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 14th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. Q2 had a negative return on equity of 19.34% and a negative net margin of 13.49%. The business had revenue of $51.70 million for the quarter, compared to analysts’ expectations of $51.70 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. sell-side analysts anticipate that Q2 Holdings will post -0.44 EPS for the current year.

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About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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