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

Conestoga Capital Advisors LLC lifted its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,203,414 shares of the technology company’s stock after buying an additional 256,802 shares during the quarter. Q2 makes up about 1.4% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Conestoga Capital Advisors LLC owned approximately 3.76% of Q2 worth $95,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in Q2 by 5.7% in the first quarter. Prudential Financial Inc. now owns 5,527 shares of the technology company’s stock worth $340,000 after purchasing an additional 296 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Q2 by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 22,596 shares of the technology company’s stock valued at $607,000 after acquiring an additional 342 shares during the period. Arizona State Retirement System boosted its holdings in shares of Q2 by 2.2% during the third quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock valued at $535,000 after acquiring an additional 352 shares during the period. Diversified Trust Co boosted its holdings in shares of Q2 by 2.7% during the fourth quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock valued at $593,000 after acquiring an additional 363 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Q2 by 4.5% during the third quarter. Glenmede Trust Co. NA now owns 9,502 shares of the technology company’s stock valued at $307,000 after acquiring an additional 405 shares during the period.

Q2 Price Performance

Shares of NYSE QTWO traded down $2.21 during trading hours on Wednesday, reaching $51.58. The stock had a trading volume of 363,773 shares, compared to its average volume of 632,205. The business’s fifty day moving average is $47.28 and its two-hundred day moving average is $40.68. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23. Q2 Holdings, Inc. has a twelve month low of $21.21 and a twelve month high of $53.96.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. As a group, equities analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other news, CFO David J. Mehok sold 5,806 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the sale, the chief financial officer now owns 159,085 shares in the company, valued at $7,319,500.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Kirk L. Coleman sold 2,904 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $133,613.04. Following the transaction, the president now owns 253,015 shares of the company’s stock, valued at $11,641,220.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Mehok sold 5,806 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the transaction, the chief financial officer now directly owns 159,085 shares in the company, valued at approximately $7,319,500.85. The disclosure for this sale can be found here. Insiders have sold 336,313 shares of company stock worth $14,889,214 over the last three months. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Q2 from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Robert W. Baird lifted their price objective on shares of Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Canaccord Genuity Group lifted their price objective on shares of Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. DA Davidson lifted their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC boosted their price target on shares of Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus target price of $43.40.

Q2 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.