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

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 642.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,302 shares of the software maker's stock after purchasing an additional 188,043 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.29% of Five9 worth $6,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FIVN. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Five9 in the third quarter worth approximately $1,716,000. Quest Partners LLC bought a new stake in Five9 in the third quarter valued at approximately $95,000. Natixis Advisors LLC bought a new stake in Five9 in the third quarter valued at approximately $679,000. WCM Investment Management LLC lifted its position in Five9 by 14.6% in the third quarter. WCM Investment Management LLC now owns 384,592 shares of the software maker's stock valued at $11,057,000 after purchasing an additional 48,981 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in Five9 by 51.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker's stock valued at $1,694,000 after purchasing an additional 20,040 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Activity

In other Five9 news, CRO Daniel P. Burkland sold 2,605 shares of Five9 stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the sale, the executive now owns 132,554 shares in the company, valued at $4,428,629.14. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the sale, the chief accounting officer now owns 36,872 shares in the company, valued at $1,124,964.72. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,493 shares of company stock worth $1,097,753 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FIVN shares. Truist Financial reiterated a "buy" rating and issued a $65.00 price objective on shares of Five9 in a research report on Tuesday, August 27th. Bank of America upgraded Five9 from an "underperform" rating to a "buy" rating and set a $63.00 target price for the company in a report on Monday, August 5th. Robert W. Baird upped their target price on Five9 from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Baird R W lowered Five9 from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 9th. Finally, Rosenblatt Securities raised their price objective on Five9 from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Five9 has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Five9 Price Performance

Shares of FIVN opened at $40.32 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The stock's 50 day moving average is $31.19 and its two-hundred day moving average is $38.13.

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.