Q2 Holdings, Inc. (NYSE:QTWO) Shares Purchased by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC grew its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,957,893 shares of the technology company’s stock after purchasing an additional 30,480 shares during the period. Q2 makes up about 2.4% of Conestoga Capital Advisors LLC’s holdings, making the stock its 16th largest holding. Conestoga Capital Advisors LLC owned about 3.22% of Q2 worth $156,651,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in QTWO. William Blair Investment Management LLC purchased a new stake in Q2 during the 4th quarter worth approximately $202,645,000. Capital Research Global Investors increased its position in shares of Q2 by 11.2% during the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company’s stock worth $152,825,000 after acquiring an additional 152,872 shares during the period. Geode Capital Management LLC increased its position in shares of Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock worth $140,175,000 after acquiring an additional 36,025 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Q2 by 107.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after acquiring an additional 698,464 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after purchasing an additional 520,649 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Q2 from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 8th. The Goldman Sachs Group cut their target price on shares of Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada decreased their price target on shares of Q2 from $108.00 to $101.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Raymond James lowered their price target on shares of Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Needham & Company LLC reduced their price objective on shares of Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.50.

Insider Activity at Q2

In related news, General Counsel Michael S. Kerr sold 397 shares of Q2 stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the sale, the general counsel now directly owns 58,441 shares in the company, valued at $5,429,168.90. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the transaction, the director now owns 16,241 shares of the company’s stock, valued at $1,425,472.57. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,014 shares of company stock worth $3,251,601 in the last three months. Insiders own 0.31% of the company’s stock.

Q2 Trading Up 2.5%

Shares of QTWO stock opened at $87.83 on Tuesday. The company has a market capitalization of $5.47 billion, a P/E ratio of -135.11 and a beta of 1.48. 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 business’s 50 day moving average is $83.92 and its two-hundred day moving average is $88.86. Q2 Holdings, Inc. has a twelve month low of $55.97 and a twelve month high of $112.82.

About Q2

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.