Conestoga Capital Advisors LLC Decreases Stake in Q2 Holdings, Inc. $QTWO

Conestoga Capital Advisors LLC lessened its position in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,928,360 shares of the technology company’s stock after selling 29,533 shares during the quarter. Q2 comprises 2.7% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 12th biggest holding. Conestoga Capital Advisors LLC’s holdings in Q2 were worth $180,475,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QTWO. LMG Wealth Partners LLC boosted its position in shares of Q2 by 4.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 17,500 shares of the technology company’s stock valued at $1,638,000 after acquiring an additional 788 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Q2 by 34.6% during the second quarter. Mutual of America Capital Management LLC now owns 57,640 shares of the technology company’s stock valued at $5,395,000 after purchasing an additional 14,820 shares during the last quarter. Twin Tree Management LP purchased a new position in shares of Q2 in the 2nd quarter worth $806,000. Bayforest Capital Ltd purchased a new position in shares of Q2 in the 2nd quarter worth $476,000. Finally, CWM LLC increased its holdings in shares of Q2 by 17.8% in the 2nd quarter. CWM LLC now owns 1,917 shares of the technology company’s stock worth $179,000 after buying an additional 289 shares during the last quarter.

Q2 Stock Performance

Shares of NYSE QTWO opened at $59.73 on Monday. Q2 Holdings, Inc. has a fifty-two week low of $58.57 and a fifty-two week high of $112.82. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 1,194.84 and a beta of 1.47. The business’s 50 day moving average price is $74.24 and its 200-day moving average price is $81.43.

Analyst Ratings Changes

QTWO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Stifel Nicolaus lowered their price objective on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC lifted their target price on Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada raised their price target on Q2 from $101.00 to $102.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.69.

Insider Transactions at Q2

In other news, General Counsel Michael S. Kerr sold 967 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $82.60, for a total transaction of $79,874.20. Following the completion of the sale, the general counsel directly owned 56,228 shares of the company’s stock, valued at approximately $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 786 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the transaction, the director owned 17,792 shares in the company, valued at approximately $1,319,276.80. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,499 shares of company stock worth $650,658. 3.00% of the stock is currently owned by insiders.

Q2 Company 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.