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

Conestoga Capital Advisors LLC lowered its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 3.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,782,715 shares of the technology company’s stock after selling 64,786 shares during the quarter. Q2 makes up about 1.7% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Conestoga Capital Advisors LLC owned approximately 2.86% of Q2 worth $84,322,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in QTWO. Headlands Technologies LLC bought a new position in shares of Q2 during the second quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Q2 in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new position in Q2 in the 4th quarter worth $27,000. Northwestern Mutual Wealth Management Co. raised its holdings in Q2 by 592.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after purchasing an additional 539 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Q2 by 92.5% in the 3rd quarter. Quarry LP now owns 697 shares of the technology company’s stock worth $50,000 after purchasing an additional 335 shares during the period.

Q2 Stock Up 4.5%

Shares of NYSE QTWO opened at $50.27 on Thursday. The firm has a market cap of $3.15 billion, a P/E ratio of 44.89 and a beta of 1.33. Q2 Holdings, Inc. has a twelve month low of $40.79 and a twelve month high of $95.10. The company has a 50 day moving average of $46.85 and a 200 day moving average of $54.16.

Q2 (NYSE:QTWO) last issued its earnings results 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 net margin of 8.99% and a return on equity of 14.68%. The business had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Q2 Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QTWO. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group set a $77.00 price objective on shares of Q2 in a report on Thursday, April 30th. Morgan Stanley set a $63.00 price objective on Q2 in a research report on Thursday, April 30th. Stifel Nicolaus set a $70.00 target price on Q2 in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $74.00 target price on Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Q2 has an average rating of “Moderate Buy” and an average target price of $73.45.

About Q2

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.