Conestoga Capital Advisors LLC Grows Holdings in Q2 Holdings, Inc. (NYSE:QTWO)

Conestoga Capital Advisors LLC boosted its holdings in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,308,194 shares of the technology company’s stock after acquiring an additional 34,300 shares during the period. Q2 accounts for about 2.5% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Conestoga Capital Advisors LLC’s holdings in Q2 were worth $184,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brown Capital Management LLC boosted its position in Q2 by 0.4% in the first quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock worth $134,850,000 after purchasing an additional 11,000 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of Q2 by 5.7% in the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after buying an additional 67,757 shares during the last quarter. American Century Companies Inc. grew its position in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares during the period. Finally, Perpetual Ltd purchased a new position in shares of Q2 during the 3rd quarter worth $80,788,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $78.00 target price (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. DA Davidson reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Q2 in a research note on Monday, September 30th. BTIG Research lifted their price objective on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Needham & Company LLC restated an “underperform” rating on shares of Q2 in a research note on Friday, October 18th. Finally, Stifel Nicolaus upped their price target on shares of Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $73.64.

Insider Buying and Selling

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares in the company, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the sale, the director now directly owns 397,702 shares of the company’s stock, valued at $29,927,075.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock valued at $3,109,699 in the last ninety days. 3.00% of the stock is owned by company insiders.

Q2 Price Performance

Shares of NYSE QTWO traded up $1.41 during mid-day trading on Friday, hitting $86.07. 223,848 shares of the company’s stock traded hands, compared to its average volume of 578,517. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. Q2 Holdings, Inc. has a 1 year low of $30.89 and a 1 year high of $86.25. The company’s 50-day moving average is $78.26 and its two-hundred day moving average is $67.71. The company has a market capitalization of $5.19 billion, a P/E ratio of -72.98 and a beta of 1.59.

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

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.