Connor Clark & Lunn Investment Management Ltd. Buys 120,776 Shares of Five9, Inc. (NASDAQ:FIVN)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Five9, Inc. (NASDAQ:FIVN) by 55.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,078 shares of the software maker’s stock after acquiring an additional 120,776 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Five9 were worth $13,739,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Potrero Capital Research LLC bought a new stake in Five9 during the third quarter worth about $15,610,000. Loomis Sayles & Co. L P bought a new stake in Five9 in the 3rd quarter worth approximately $11,211,000. Scalar Gauge Management LLC boosted its stake in Five9 by 191.7% in the third quarter. Scalar Gauge Management LLC now owns 462,291 shares of the software maker’s stock worth $13,282,000 after buying an additional 303,791 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Five9 in the fourth quarter worth approximately $11,671,000. Finally, FMR LLC grew its position in Five9 by 2.4% during the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after acquiring an additional 259,820 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Five9 Trading Down 4.6 %

Shares of FIVN opened at $28.24 on Friday. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $63.79. 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’s 50-day moving average price is $38.42 and its 200-day moving average price is $35.83. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -141.19, a PEG ratio of 9.41 and a beta of 1.01.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data 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). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Sell-side analysts anticipate that Five9, Inc. will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Five9 news, COO Andy Dignan sold 2,840 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the sale, the chief operating officer now owns 194,201 shares in the company, valued at approximately $6,453,299.23. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,517 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $50,409.91. Following the transaction, the chief accounting officer now directly owns 48,300 shares of the company’s stock, valued at $1,605,009. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,874 shares of company stock valued at $985,446 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Five9 in a research report on Friday, February 21st. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Cantor Fitzgerald boosted their target price on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley raised their price target on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.65.

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.