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

Conestoga Capital Advisors LLC increased its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,957,893 shares of the technology company's stock after purchasing an additional 30,480 shares during the quarter. Q2 makes up 2.4% of Conestoga Capital Advisors LLC's holdings, making the stock its 16th largest position. Conestoga Capital Advisors LLC owned 3.22% of Q2 worth $156,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. purchased a new position in Q2 in the fourth quarter worth $1,299,000. Rhumbline Advisers boosted its position in shares of Q2 by 0.4% in the 4th quarter. Rhumbline Advisers now owns 81,652 shares of the technology company's stock worth $8,218,000 after purchasing an additional 355 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Q2 during the 4th quarter worth $296,000. TimesSquare Capital Management LLC grew its stake in Q2 by 9.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 375,700 shares of the technology company's stock worth $37,814,000 after buying an additional 31,175 shares during the last quarter. Finally, LMG Wealth Partners LLC acquired a new position in Q2 during the 4th quarter valued at about $1,436,000.

Q2 Stock Performance

Shares of QTWO stock traded up $2.88 on Wednesday, hitting $88.89. The company had a trading volume of 506,433 shares, compared to its average volume of 641,630. Q2 Holdings, Inc. has a twelve month low of $55.97 and a twelve month high of $112.82. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.54 billion, a P/E ratio of -253.97 and a beta of 1.48. The company has a 50-day moving average price of $84.35 and a 200-day moving average price of $88.84.

Insider Buying and Selling at Q2

In other news, CEO Matthew P. Flake sold 36,023 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the completion of the sale, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total value of $126,920.64. Following the transaction, the executive now owns 175,812 shares in the company, valued at $15,626,170.56. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,014 shares of company stock valued at $3,251,601. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Cantor Fitzgerald started coverage on Q2 in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price target for the company. Compass Point reiterated a "neutral" rating and issued a $60.00 target price on shares of Q2 in a research note on Monday, April 7th. Raymond James Financial dropped their target price on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada cut their price target on shares of Q2 from $108.00 to $101.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Finally, Robert W. Baird lifted their price objective on shares of Q2 from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.41.

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.