313,686 Q2 Holdings, Inc. $QTWO Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lessened its position in Q2 Holdings, Inc. (NYSE:QTWO) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,079,589 shares of the technology company’s stock after selling 313,686 shares during the quarter. Q2 accounts for 1.8% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 21st largest position. Conestoga Capital Advisors LLC owned about 1.75% of Q2 worth $59,852,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QTWO. Dimensional Fund Advisors LP raised its position in Q2 by 34.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,773 shares of the technology company’s stock worth $47,760,000 after purchasing an additional 259,912 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Q2 by 7.8% in the first quarter. The Manufacturers Life Insurance Company now owns 698,693 shares of the technology company’s stock worth $33,048,000 after purchasing an additional 50,473 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock valued at $24,418,000 after buying an additional 300,375 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Q2 during the second quarter valued at approximately $19,639,000. Finally, Wellington Management Group LLP boosted its position in shares of Q2 by 9.0% during the second quarter. Wellington Management Group LLP now owns 353,484 shares of the technology company’s stock valued at $17,003,000 after buying an additional 29,075 shares during the period.

Insiders Place Their Bets

In other news, insider Kimberly Rutledge sold 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the transaction, the insider directly owned 113,913 shares of the company’s stock, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares in the company, valued at approximately $13,643,564.43. The trade was a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,816 shares of company stock worth $5,740,968 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Q2 Stock Performance

NYSE QTWO opened at $74.29 on Thursday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 43.96 and a beta of 1.36. The company’s 50-day simple moving average is $61.92 and its two-hundred day simple moving average is $54.81. Q2 Holdings, Inc. has a one year low of $40.79 and a one year high of $76.24.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.74 earnings per share 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 firm had revenue of $225.77 million during the quarter, compared to analysts’ expectations of $221.23 million. During the same quarter in the prior year, the company earned $0.23 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Q2 Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on QTWO shares. Stephens assumed coverage on Q2 in a research note on Thursday, October 15th. They set an “overweight” rating and a $74.00 price target for the company. Needham & Company LLC upped their price objective on Q2 from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Morgan Stanley increased their target price on Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Piper Sandler upped their price target on shares of Q2 from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. One investment 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.33.

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.