Conestoga Capital Advisors LLC Buys 34,300 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Conestoga Capital Advisors LLC raised its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,308,194 shares of the technology company’s stock after acquiring an additional 34,300 shares during the period. Q2 comprises approximately 2.5% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Conestoga Capital Advisors LLC owned 3.83% of Q2 worth $184,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Hood River Capital Management LLC purchased a new position in Q2 in the first quarter worth $62,765,000. American Century Companies Inc. raised its position in Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after acquiring an additional 1,190,274 shares during the period. Perpetual Ltd purchased a new position in Q2 in the third quarter valued at about $80,788,000. Price T Rowe Associates Inc. MD grew its position in shares of Q2 by 1,910.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Q2 during the 1st quarter worth approximately $19,101,000.

Q2 Price Performance

NYSE QTWO traded up $1.41 during trading hours on Friday, reaching $86.07. 223,848 shares of the stock traded hands, compared to its average volume of 578,517. The stock has a 50 day simple moving average of $78.26 and a two-hundred day simple moving average of $67.71. Q2 Holdings, Inc. has a 1 year low of $30.89 and a 1 year high of $86.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -72.98 and a beta of 1.59.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. On average, analysts predict that Q2 Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,963 shares of company stock valued at $3,109,699. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

QTWO has been the subject of several research reports. BTIG Research increased their price objective on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Truist Financial reiterated a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Q2 in a research note on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. Finally, Compass Point started coverage on shares of Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.64.

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.