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

Federated Hermes Inc. lifted its position in shares of Five9, Inc. (NASDAQ:FIVN) by 124,372.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 830,230 shares of the software maker’s stock after buying an additional 829,563 shares during the quarter. Federated Hermes Inc.’s holdings in Five9 were worth $21,984,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in Five9 during the second quarter worth about $32,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Five9 by 419.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock worth $61,000 after purchasing an additional 1,811 shares in the last quarter. Quarry LP purchased a new position in shares of Five9 during the 1st quarter worth approximately $74,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Five9 by 11,392.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,218 shares of the software maker’s stock worth $87,000 after purchasing an additional 3,190 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Five9 in the 1st quarter valued at approximately $127,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FIVN shares. Wells Fargo & Company dropped their price target on Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Morgan Stanley set a $30.00 price objective on Five9 in a research note on Tuesday, October 21st. Zacks Research cut Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Barclays reduced their target price on shares of Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $28.00 price target on shares of Five9 in a research note on Friday, September 12th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.19.

Insider Buying and Selling at Five9

In other Five9 news, insider Tiffany N. Meriweather sold 6,852 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $20.35, for a total transaction of $139,438.20. Following the completion of the sale, the insider directly owned 212,126 shares in the company, valued at $4,316,764.10. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Bryan M. Lee sold 13,219 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $20.35, for a total value of $269,006.65. Following the completion of the transaction, the chief financial officer owned 224,269 shares in the company, valued at approximately $4,563,874.15. This trade represents a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 66,739 shares of company stock worth $1,364,010. 1.60% of the stock is currently owned by company insiders.

Five9 Trading Up 3.3%

Shares of FIVN stock opened at $21.51 on Wednesday. The firm has a market cap of $1.68 billion, a P/E ratio of 59.75, a PEG ratio of 1.29 and a beta of 1.35. Five9, Inc. has a 1-year low of $17.71 and a 1-year high of $49.90. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.61 and a quick ratio of 4.61. The firm’s 50-day simple moving average is $21.38 and its 200-day simple moving average is $24.86.

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

Five9 announced that its Board of Directors has initiated a share buyback program on Tuesday, November 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the software maker to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.