Conestoga Capital Advisors LLC trimmed its position in Q2 Holdings, Inc. (NYSE:QTWO – Free Report) by 22.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,079,589 shares of the technology company’s stock after selling 313,686 shares during the quarter. Q2 makes up about 1.8% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 21st largest position. Conestoga Capital Advisors LLC’s holdings in Q2 were worth $59,852,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC purchased a new stake in Q2 in the first quarter valued at approximately $25,000. Optiver Holding B.V. increased its holdings in Q2 by 1,578.9% in the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock worth $30,000 after buying an additional 600 shares during the period. Allworth Financial LP raised its position in Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after buying an additional 364 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in Q2 during the 2nd quarter worth approximately $61,000. Finally, Covestor Ltd lifted its stake in Q2 by 177.5% during the 3rd quarter. Covestor Ltd now owns 1,157 shares of the technology company’s stock valued at $64,000 after acquiring an additional 740 shares during the period.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Q2 from $73.00 to $75.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Q2 from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Piper Sandler increased their price target on Q2 from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Finally, DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of Q2 in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $78.33.
Check Out Our Latest Analysis on QTWO
Insider Buying and Selling
In other Q2 news, CFO Jonathan Price sold 77,180 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the transaction, the chief financial officer owned 207,633 shares in the company, valued at approximately $13,643,564.43. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Rutledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the sale, the insider directly owned 113,913 shares in the company, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 87,816 shares of company stock valued at $5,740,968. 0.88% of the stock is owned by company insiders.
Q2 Price Performance
QTWO opened at $74.29 on Thursday. The firm has a fifty day moving average price of $61.92 and a 200 day moving average price of $54.81. Q2 Holdings, Inc. has a 1 year low of $40.79 and a 1 year high of $76.24. The stock has a market cap of $4.59 billion, a P/E ratio of 43.96 and a beta of 1.36.
Q2 (NYSE:QTWO – Get Free Report) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Q2 had a net margin of 12.66% and a return on equity of 17.85%. The business had revenue of $225.77 million for the quarter, compared to analyst estimates of $221.23 million. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts expect that Q2 Holdings, Inc. will post 1.88 EPS for the current year.
Q2 Company Profile
Q2 Holdings, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help these organizations deliver digital banking experiences, manage customer relationships and expand access to financial services through online and mobile channels.
The company’s products and services include digital banking, account opening, lending and loan origination, payments, data and analytics, financial crime prevention, and tools for managing customer engagement.
Featured Articles
- Five stocks we like better than Q2
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding QTWO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Q2 Holdings, Inc. (NYSE:QTWO – Free Report).
Receive News & Ratings for Q2 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 and related companies with MarketBeat.com's FREE daily email newsletter.
