Connor Clark & Lunn Investment Management Ltd. Has $11.71 Million Holdings in Five9, Inc. $FIVN

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 33.5% in the second quarter, HoldingsChannel reports. The firm owned 442,387 shares of the software maker’s stock after acquiring an additional 111,039 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Five9 were worth $11,714,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC bought a new stake in shares of Five9 during the second quarter worth $32,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in 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 buying an additional 1,811 shares in the last quarter. Quarry LP acquired a new position in Five9 during the 1st quarter worth about $74,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 3,190 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in Five9 in the 1st quarter valued at about $127,000. Institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FIVN shares. Piper Sandler reduced their target price on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Zacks Research cut shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Wells Fargo & Company decreased their price objective on Five9 from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Cantor Fitzgerald lowered their target price on Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wall Street Zen raised Five9 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.19.

Insiders Place Their Bets

In related news, CFO Bryan M. Lee sold 1,889 shares of Five9 stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total transaction of $48,585.08. Following the transaction, the chief financial officer owned 237,488 shares of the company’s stock, valued at $6,108,191.36. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Leena Mansharamani sold 2,969 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $25.85, for a total transaction of $76,748.65. Following the transaction, the chief accounting officer owned 41,522 shares of the company’s stock, valued at approximately $1,073,343.70. This represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,738 shares of company stock worth $1,380,677 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Five9 Stock Down 2.1%

NASDAQ:FIVN opened at $20.33 on Wednesday. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. Five9, Inc. has a 12-month low of $17.97 and a 12-month high of $49.90. The stock’s fifty day simple moving average is $23.87 and its 200-day simple moving average is $25.79. The firm has a market capitalization of $1.57 billion, a P/E ratio of 225.91, a P/E/G ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%.The business had revenue of $283.27 million during the quarter. Equities research analysts expect that Five9, Inc. will post 0.28 earnings per share for the current year.

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

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.