Conestoga Capital Advisors LLC Sells 380,781 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Conestoga Capital Advisors LLC lessened its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,927,413 shares of the technology company’s stock after selling 380,781 shares during the quarter. Q2 makes up approximately 2.6% of Conestoga Capital Advisors LLC’s holdings, making the stock its 13th biggest holding. Conestoga Capital Advisors LLC’s holdings in Q2 were worth $193,994,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Highland Capital Management LLC increased its stake in shares of Q2 by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after acquiring an additional 172 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its position in shares of Q2 by 5.5% during the third quarter. Parallax Volatility Advisers L.P. now owns 5,549 shares of the technology company’s stock worth $443,000 after purchasing an additional 288 shares in the last quarter. Quarry LP grew its holdings in shares of Q2 by 988.2% in the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after buying an additional 336 shares during the period. King Luther Capital Management Corp increased its position in shares of Q2 by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 140,700 shares of the technology company’s stock valued at $11,224,000 after buying an additional 604 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in Q2 by 12.1% during the third quarter. Quadrature Capital Ltd now owns 6,446 shares of the technology company’s stock worth $514,000 after acquiring an additional 698 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QTWO. DA Davidson lifted their price objective on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Needham & Company LLC increased their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Q2 Stock Down 2.8 %

QTWO opened at $94.96 on Monday. The stock has a fifty day moving average of $101.06 and a 200-day moving average of $86.75. The company has a market capitalization of $5.74 billion, a P/E ratio of -98.91 and a beta of 1.61. Q2 Holdings, Inc. has a fifty-two week low of $40.60 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

Insiders Place Their Bets

In other news, CRO Michael A. Volanoski sold 4,178 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total value of $442,868.00. Following the completion of the transaction, the executive now owns 223,494 shares of the company’s stock, valued at approximately $23,690,364. This represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Offerdahl sold 548 shares of Q2 stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock worth $3,061,035 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Q2 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.