Public Employees Retirement System of Ohio reduced its stake in Five9 Inc (NASDAQ:FIVN) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,929 shares of the software maker’s stock after selling 12,166 shares during the period. Public Employees Retirement System of Ohio’s holdings in Five9 were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of FIVN. Mount Yale Investment Advisors LLC bought a new stake in shares of Five9 in the second quarter valued at approximately $110,000. Great West Life Assurance Co. Can boosted its stake in shares of Five9 by 81.0% in the second quarter. Great West Life Assurance Co. Can now owns 5,407 shares of the software maker’s stock valued at $187,000 after buying an additional 2,419 shares during the period. Amalgamated Bank bought a new stake in shares of Five9 in the first quarter valued at approximately $213,000. Atria Investments LLC bought a new stake in shares of Five9 in the second quarter valued at approximately $214,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Five9 in the second quarter valued at approximately $214,000. Institutional investors and hedge funds own 96.28% of the company’s stock.
Several equities research analysts recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price target (up from $34.00) on shares of Five9 in a research note on Tuesday, August 7th. BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research upgraded Five9 from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, September 28th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Five9 in a research note on Thursday, August 23rd. Finally, Stifel Nicolaus upped their target price on Five9 from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.36.
NASDAQ FIVN opened at $38.31 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.96 and a quick ratio of 6.96. Five9 Inc has a fifty-two week low of $22.51 and a fifty-two week high of $49.50. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -225.35 and a beta of 0.40.
Five9 (NASDAQ:FIVN) last released its earnings results on Monday, August 6th. The software maker reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Five9 had a negative return on equity of 3.56% and a negative net margin of 1.04%. The firm had revenue of $61.12 million during the quarter, compared to analysts’ expectations of $56.42 million. Five9’s revenue was up 28.1% compared to the same quarter last year. As a group, analysts predict that Five9 Inc will post -0.06 EPS for the current fiscal year.
In other news, CFO Barry Zwarenstein sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $35.55, for a total transaction of $355,500.00. Following the completion of the transaction, the chief financial officer now directly owns 118,098 shares in the company, valued at $4,198,383.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Welch sold 1,750 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $40.51, for a total transaction of $70,892.50. Following the transaction, the executive vice president now owns 78,711 shares of the company’s stock, valued at $3,188,582.61. The disclosure for this sale can be found here. Insiders have sold 93,073 shares of company stock valued at $4,117,353 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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