PNC Financial Services Group Inc. Acquires 365 Shares of Five9, Inc. (NASDAQ:FIVN)

PNC Financial Services Group Inc. lifted its holdings in Five9, Inc. (NASDAQ:FIVN) by 10.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,836 shares of the software maker’s stock after purchasing an additional 365 shares during the period. PNC Financial Services Group Inc.’s holdings in Five9 were worth $156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC purchased a new stake in shares of Five9 during the third quarter valued at about $679,000. Quest Partners LLC purchased a new position in shares of Five9 in the 3rd quarter worth approximately $95,000. Intech Investment Management LLC bought a new position in shares of Five9 during the 3rd quarter worth approximately $281,000. Massachusetts Financial Services Co. MA lifted its position in Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after acquiring an additional 210,836 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Five9 by 14.9% in the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after acquiring an additional 98,543 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Five9 in a research report on Thursday, March 13th. Barclays upped their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Five9 in a report on Monday, March 17th. Piper Sandler boosted their price target on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Five9 in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.76.

Insider Buying and Selling at Five9

In other Five9 news, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the sale, the chief accounting officer now directly owns 47,165 shares in the company, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,874 shares of company stock valued at $985,446. 1.80% of the stock is owned by company insiders.

Five9 Trading Up 2.4 %

Shares of Five9 stock opened at $30.87 on Tuesday. The stock has a market cap of $2.34 billion, a PE ratio of -154.34, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. The firm has a fifty day moving average price of $37.14 and a 200 day moving average price of $35.79. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $63.79. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. Equities research analysts predict that Five9, Inc. will post 0.28 earnings per share for the current year.

Five9 Company 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.