Conestoga Capital Advisors LLC Sells 64,786 Shares of Q2 Holdings, Inc. $QTWO

Conestoga Capital Advisors LLC decreased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 1,782,715 shares of the technology company’s stock after selling 64,786 shares during the quarter. Q2 comprises about 1.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 26th biggest position. Conestoga Capital Advisors LLC’s holdings in Q2 were worth $84,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its holdings in shares of Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after buying an additional 553,713 shares during the period. Peregrine Capital Management LLC boosted its stake in shares of Q2 by 48.7% in the 4th quarter. Peregrine Capital Management LLC now owns 143,243 shares of the technology company’s stock worth $10,336,000 after buying an additional 46,903 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Q2 by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after acquiring an additional 82,827 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Q2 in the fourth quarter worth $3,080,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Q2 by 207.2% in the fourth quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock worth $9,877,000 after acquiring an additional 92,318 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QTWO shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Robert W. Baird set a $74.00 price target on shares of Q2 in a research report on Thursday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Q2 in a research report on Thursday, April 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.45.

Q2 Stock Up 4.5%

Shares of QTWO opened at $50.27 on Thursday. The business has a 50-day simple moving average of $46.85 and a two-hundred day simple moving average of $54.16. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 44.89 and a beta of 1.33. Q2 Holdings, Inc. has a 52 week low of $40.79 and a 52 week high of $95.10.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The company had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. During the same period last year, the business earned $0.07 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Q2 Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Q2 Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.