Penn Capital Management Company LLC Sells 120,186 Shares of Q2 Holdings, Inc. (NYSE:QTWO)

Penn Capital Management Company LLC reduced its stake in shares of Q2 Holdings, Inc. (NYSE:QTWO - Free Report) by 54.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,268 shares of the technology company's stock after selling 120,186 shares during the quarter. Penn Capital Management Company LLC owned about 0.16% of Q2 worth $9,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Quantessence Capital LLC bought a new stake in shares of Q2 in the 4th quarter valued at $943,000. Harvest Investment Services LLC grew its position in shares of Q2 by 318.7% in the 4th quarter. Harvest Investment Services LLC now owns 18,607 shares of the technology company's stock valued at $1,873,000 after purchasing an additional 14,163 shares during the period. Hsbc Holdings PLC increased its stake in Q2 by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 9,216 shares of the technology company's stock worth $929,000 after purchasing an additional 614 shares in the last quarter. Transce3nd LLC acquired a new stake in Q2 during the 4th quarter worth approximately $98,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Q2 by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 35,433 shares of the technology company's stock worth $3,566,000 after acquiring an additional 2,030 shares during the period.

Insider Buying and Selling at Q2

In other Q2 news, insider Kimberly Anne Rutledge sold 6,656 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now owns 113,278 shares of the company's stock, valued at approximately $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the sale, the director now directly owns 17,241 shares in the company, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock valued at $14,853,965 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Q2 Stock Performance

Q2 stock traded up $0.77 during midday trading on Tuesday, hitting $79.48. The company's stock had a trading volume of 95,568 shares, compared to its average volume of 747,904. The company has a 50-day moving average price of $78.28 and a two-hundred day moving average price of $90.24. Q2 Holdings, Inc. has a 1-year low of $50.91 and a 1-year high of $112.82. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -122.27 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, sell-side analysts predict that Q2 Holdings, Inc. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QTWO. Truist Financial reissued a "buy" rating and issued a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Stephens restated an "overweight" rating and set a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Needham & Company LLC lifted their price target on shares of Q2 from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group lowered their target price on Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Royal Bank of Canada increased their price target on Q2 from $105.00 to $108.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.60.

About Q2

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.