Conestoga Capital Advisors LLC Sells 29,533 Shares of Q2 Holdings, Inc. $QTWO

Key Points

• Conestoga Capital Advisors LLC reduced its stake in Q2 Holdings, Inc. by 1.5%, now holding approximately 1,928,360 shares valued at around $180 million.
• Multiple institutional investors have recently modified their positions in Q2, with notable increases from Larson Financial Group LLC by 2,630% and TCTC Holdings LLC by 103.1%.
• Analysts have mixed ratings for Q2 Holdings, with a consensus rating of "Hold" and a target price of approximately $100.69, down from earlier higher targets.

Conestoga Capital Advisors LLC cut its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,928,360 shares of the technology company's stock after selling 29,533 shares during the period. Q2 comprises approximately 2.7% of Conestoga Capital Advisors LLC's holdings, making the stock its 12th largest position. Conestoga Capital Advisors LLC owned approximately 3.10% of Q2 worth $180,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of QTWO. WPG Advisers LLC purchased a new stake in Q2 during the first quarter valued at $35,000. Larson Financial Group LLC grew its stake in shares of Q2 by 2,630.0% during the 1st quarter. Larson Financial Group LLC now owns 546 shares of the technology company's stock valued at $44,000 after purchasing an additional 526 shares during the period. TCTC Holdings LLC increased its position in shares of Q2 by 103.1% during the 1st quarter. TCTC Holdings LLC now owns 597 shares of the technology company's stock valued at $48,000 after purchasing an additional 303 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Q2 in the 1st quarter worth approximately $58,000. Finally, Summit Securities Group LLC purchased a new position in shares of Q2 in the first quarter worth approximately $64,000.

Q2 Stock Performance

Shares of QTWO stock opened at $59.73 on Monday. The stock has a fifty day simple moving average of $74.24 and a two-hundred day simple moving average of $81.43. The firm has a market capitalization of $3.73 billion, a PE ratio of 1,194.84 and a beta of 1.47. Q2 Holdings, Inc. has a 52-week low of $58.57 and a 52-week high of $112.82.

Analysts Set New Price Targets

A number of brokerages have commented on QTWO. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Q2 in a report on Wednesday, October 8th. Zacks Research cut Q2 from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Wall Street Zen lowered Q2 from a "buy" rating to a "hold" rating in a report on Friday, September 26th. JPMorgan Chase & Co. reduced their price target on Q2 from $115.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, September 24th. Finally, Needham & Company LLC lifted their price objective on Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Q2 presently has a consensus rating of "Hold" and a consensus target price of $100.69.

Insider Buying and Selling

In related news, insider John E. Breeden sold 6,105 shares of Q2 stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $75.27, for a total transaction of $459,523.35. Following the sale, the insider owned 149,643 shares of the company's stock, valued at approximately $11,263,628.61. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael S. Kerr sold 967 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $82.60, for a total value of $79,874.20. Following the completion of the transaction, the general counsel owned 56,228 shares of the company's stock, valued at $4,644,432.80. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,499 shares of company stock worth $650,658. 3.00% of the stock is owned by corporate insiders.

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.

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