Intech Investment Management LLC Takes Position in Five9, Inc. (NASDAQ:FIVN)

Intech Investment Management LLC bought a new stake in Five9, Inc. (NASDAQ:FIVN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,769 shares of the software maker’s stock, valued at approximately $281,000.

Several other institutional investors also recently modified their holdings of FIVN. Signaturefd LLC lifted its stake in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Five9 in the second quarter valued at approximately $57,000. Quest Partners LLC purchased a new position in Five9 in the third quarter valued at approximately $95,000. nVerses Capital LLC purchased a new position in Five9 in the third quarter valued at approximately $141,000. Finally, Cetera Advisors LLC purchased a new position in Five9 in the first quarter valued at approximately $226,000. 96.64% of the stock is owned by institutional investors.

Insider Activity at Five9

In other news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FIVN shares. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Barclays dropped their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Morgan Stanley dropped their target price on Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Five9 Stock Up 2.4 %

FIVN opened at $42.46 on Thursday. The stock has a market cap of $3.19 billion, a PE ratio of -84.92, a P/E/G ratio of 25.09 and a beta of 0.92. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $88.21. The business’s fifty day simple moving average is $33.57 and its 200 day simple moving average is $37.22.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions.