Penn Capital Management Co. Inc. Has $6.04 Million Stake in Q2 Holdings Inc (QTWO)

Penn Capital Management Co. Inc. lessened its position in Q2 Holdings Inc (NYSE:QTWO) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,631 shares of the technology company’s stock after selling 16,594 shares during the period. Penn Capital Management Co. Inc.’s holdings in Q2 were worth $6,042,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. American International Group Inc. raised its position in shares of Q2 by 1.4% in the fourth quarter. American International Group Inc. now owns 24,630 shares of the technology company’s stock valued at $1,220,000 after buying an additional 333 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Q2 by 7.1% in the first quarter. First Mercantile Trust Co. now owns 8,205 shares of the technology company’s stock valued at $568,000 after buying an additional 547 shares during the last quarter. Legal & General Group Plc raised its position in shares of Q2 by 7.2% in the fourth quarter. Legal & General Group Plc now owns 14,078 shares of the technology company’s stock valued at $698,000 after buying an additional 949 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Q2 by 33.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,203 shares of the technology company’s stock valued at $201,000 after buying an additional 1,042 shares during the last quarter. Finally, Pearl River Capital LLC acquired a new position in shares of Q2 in the first quarter valued at approximately $76,000. 96.82% of the stock is owned by institutional investors and hedge funds.

Q2 stock opened at $72.68 on Thursday. Q2 Holdings Inc has a 1 year low of $43.41 and a 1 year high of $76.08. The company has a market capitalization of $3.10 billion, a P/E ratio of -196.43 and a beta of 1.53. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.40.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.21). Q2 had a negative return on equity of 16.48% and a negative net margin of 18.89%. The business had revenue of $71.30 million for the quarter, compared to analysts’ expectations of $70.67 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Q2’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, research analysts predict that Q2 Holdings Inc will post -0.64 earnings per share for the current year.

In other Q2 news, Director R. H. Seale sold 146,092 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $67.15, for a total transaction of $9,810,077.80. Following the completion of the sale, the director now directly owns 381,737 shares in the company, valued at $25,633,639.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Adam D. Blue sold 5,025 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $64.98, for a total transaction of $326,524.50. Following the sale, the chief technology officer now owns 60,823 shares of the company’s stock, valued at $3,952,278.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 759,572 shares of company stock valued at $52,231,221. 17.90% of the stock is owned by insiders.

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Q2 in a research report on Friday, March 1st. BTIG Research downgraded shares of Q2 from a “buy” rating to a “neutral” rating in a report on Thursday, February 14th. KeyCorp boosted their target price on shares of Q2 from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, March 1st. William Blair started coverage on shares of Q2 in a report on Monday, April 1st. They issued an “outperform” rating and a $69.71 target price for the company. Finally, Craig Hallum restated a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Q2 in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $71.04.

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About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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Institutional Ownership by Quarter for Q2 (NYSE:QTWO)

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