Five9, Inc. $FIVN Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Five9, Inc. (NASDAQ:FIVN) by 124,372.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 830,230 shares of the software maker’s stock after acquiring an additional 829,563 shares during the period. Federated Hermes Inc. owned 1.07% of Five9 worth $21,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in FIVN. PNC Financial Services Group Inc. lifted its holdings in shares of Five9 by 74.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,701 shares of the software maker’s stock valued at $182,000 after purchasing an additional 2,865 shares during the last quarter. Invesco Ltd. increased its position in Five9 by 16.1% during the first quarter. Invesco Ltd. now owns 92,284 shares of the software maker’s stock worth $2,506,000 after buying an additional 12,768 shares during the period. Nuveen LLC purchased a new stake in Five9 in the first quarter valued at approximately $9,008,000. Aberdeen Group plc boosted its holdings in shares of Five9 by 4.7% in the first quarter. Aberdeen Group plc now owns 288,276 shares of the software maker’s stock valued at $7,827,000 after acquiring an additional 12,893 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Five9 by 42.4% in the first quarter. Raymond James Financial Inc. now owns 408,810 shares of the software maker’s stock valued at $11,099,000 after acquiring an additional 121,630 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FIVN shares. Wall Street Zen raised shares of Five9 from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley set a $30.00 price objective on shares of Five9 in a research note on Tuesday, October 21st. Cantor Fitzgerald reduced their target price on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Zacks Research downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Five9 in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Five9 has an average rating of “Moderate Buy” and a consensus price target of $35.19.

Five9 Price Performance

Shares of FIVN opened at $21.51 on Wednesday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $21.38 and its two-hundred day moving average is $24.86. Five9, Inc. has a twelve month low of $17.71 and a twelve month high of $49.90. The firm has a market capitalization of $1.68 billion, a PE ratio of 59.75, a P/E/G ratio of 1.29 and a beta of 1.35.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. Five9 had a return on equity of 10.59% and a net margin of 2.77%.The business had revenue of $283.27 million during the quarter. Research analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current year.

Five9 announced that its board has initiated a share buyback plan on Tuesday, November 11th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 17,992 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total transaction of $366,137.20. Following the sale, the chief executive officer directly owned 349,570 shares in the company, valued at approximately $7,113,749.50. The trade was a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tiffany N. Meriweather sold 6,852 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $20.35, for a total transaction of $139,438.20. Following the completion of the transaction, the insider owned 212,126 shares of the company’s stock, valued at $4,316,764.10. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 66,739 shares of company stock worth $1,364,010. 1.60% of the stock is currently owned by insiders.

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.