Teacher Retirement System of Texas Makes New Investment in Five9, Inc. (NASDAQ:FIVN)

Teacher Retirement System of Texas bought a new stake in shares of Five9, Inc. (NASDAQ:FIVN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,959 shares of the software maker’s stock, valued at approximately $433,000.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Five9 during the fourth quarter worth about $36,000. Johnson Financial Group Inc. purchased a new position in shares of Five9 in the fourth quarter valued at approximately $47,000. Conquis Financial LLC purchased a new position in shares of Five9 in the fourth quarter valued at approximately $122,000. PNC Financial Services Group Inc. increased its holdings in shares of Five9 by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after purchasing an additional 365 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Five9 by 41.6% in the fourth quarter. State of Wyoming now owns 4,717 shares of the software maker’s stock valued at $192,000 after purchasing an additional 1,386 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Trading Up 5.8%

Shares of Five9 stock opened at $26.86 on Friday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -298.41, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. Five9, Inc. has a fifty-two week low of $21.04 and a fifty-two week high of $49.90. The business has a fifty day simple moving average of $27.33 and a 200-day simple moving average of $31.04. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.12.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The business had revenue of $279.71 million for the quarter, compared to analysts’ expectations of $272.26 million. During the same period in the previous year, the company posted $0.48 EPS. Five9’s revenue was up 13.2% on a year-over-year basis. On average, equities analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FIVN shares. Needham & Company LLC cut their target price on Five9 from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Piper Sandler decreased their target price on Five9 from $36.00 to $31.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley decreased their target price on Five9 from $48.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company decreased their price target on Five9 from $45.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, KeyCorp assumed coverage on Five9 in a report on Friday, June 6th. They issued an “overweight” rating and a $35.00 target price for the company. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Five9 has an average rating of “Moderate Buy” and an average target price of $42.05.

Insider Activity

In other Five9 news, President Andy Dignan sold 4,845 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $28.18, for a total transaction of $136,532.10. Following the sale, the president directly owned 227,839 shares of the company’s stock, valued at approximately $6,420,503.02. This represents a 2.08% 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 link. Also, CFO Bryan M. Lee sold 1,798 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total transaction of $50,847.44. Following the sale, the chief financial officer directly owned 126,468 shares in the company, valued at $3,576,515.04. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,866 shares of company stock worth $913,042. Insiders own 1.60% of the company’s stock.

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.