Connor Clark & Lunn Investment Management Ltd. Increases Stake in Five9, Inc. (NASDAQ:FIVN)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Five9, Inc. (NASDAQ:FIVN - Free Report) by 55.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,078 shares of the software maker's stock after buying an additional 120,776 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.45% of Five9 worth $13,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker's stock worth $47,919,000 after acquiring an additional 210,836 shares in the last quarter. Gagnon Securities LLC lifted its stake in Five9 by 10.4% during the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker's stock worth $14,878,000 after purchasing an additional 34,597 shares during the last quarter. Vestcor Inc boosted its holdings in shares of Five9 by 42.9% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker's stock worth $1,437,000 after purchasing an additional 15,000 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Five9 by 14.9% during the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock valued at $21,891,000 after purchasing an additional 98,543 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Five9 by 215.8% during the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker's stock valued at $6,956,000 after buying an additional 165,487 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

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Insider Buying and Selling

In other news, CAO Leena Mansharamani sold 1,517 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $50,409.91. Following the sale, the chief accounting officer now directly owns 48,300 shares of the company's stock, valued at $1,605,009. The trade was a 3.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andy Dignan sold 2,840 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 value of $94,373.20. Following the transaction, the chief operating officer now directly owns 194,201 shares of the company's stock, valued at approximately $6,453,299.23. This trade represents a 1.44 % 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.

Wall Street Analysts Forecast Growth

FIVN has been the subject of several research reports. Cantor Fitzgerald upped their target price on Five9 from $46.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Morgan Stanley increased their target price on shares of Five9 from $40.00 to $46.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Rosenblatt Securities boosted their price target on shares of Five9 from $50.00 to $58.00 and gave the stock a "buy" rating in a research note 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 Monday. Finally, William Blair reiterated an "outperform" rating on shares of Five9 in a report on Thursday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.25.

Five9 Trading Up 2.5 %

NASDAQ:FIVN traded up $0.75 during trading hours on Monday, hitting $30.23. The company had a trading volume of 1,275,101 shares, compared to its average volume of 1,528,385. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a 50-day moving average price of $38.19 and a 200 day moving average price of $35.84. The company has a market capitalization of $2.29 billion, a PE ratio of -151.14, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $63.79.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $278.66 million for the quarter, compared to analysts' expectations of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. On average, equities research analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.