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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of Five9 during the second quarter worth about $2,177,000. Scalar Gauge Management LLC purchased a new stake in shares of Five9 during the second quarter worth about $6,990,000. King Luther Capital Management Corp purchased a new stake in shares of Five9 during the second quarter worth about $2,062,000. Van Berkom & Associates Inc. boosted its holdings in shares of Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Five9 during the third quarter worth about $1,714,000. 96.64% of the stock is owned by institutional investors.

Five9 Price Performance

Shares of FIVN opened at $42.46 on Thursday. The firm 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 current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $33.57 and a two-hundred day simple moving average of $37.22. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $88.21.

Analyst Ratings Changes

Several analysts have commented on FIVN shares. Rosenblatt Securities raised their price objective on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. DA Davidson raised their price objective on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Northland Securities lowered their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler raised their price objective on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insider Buying and Selling at Five9

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the sale, the chief financial officer now directly owns 101,732 shares in the company, valued at approximately $2,743,712.04. The trade was a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

About Five9

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.