WCM Investment Management LLC Acquires 138,019 Shares of Five9, Inc. (NASDAQ:FIVN)

WCM Investment Management LLC grew its stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,611 shares of the software maker's stock after buying an additional 138,019 shares during the period. WCM Investment Management LLC owned 0.69% of Five9 worth $21,281,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Five9 by 14.5% in the 3rd 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 during the last quarter. Gagnon Securities LLC boosted its position in Five9 by 10.4% in the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker's stock valued at $14,878,000 after buying an additional 34,597 shares during the last quarter. Vestcor Inc grew its position in Five9 by 42.9% during 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 during the period. Fisher Asset Management LLC grew its position in Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock valued at $21,891,000 after buying an additional 98,543 shares during the period. Finally, Barclays PLC lifted its position 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. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,346 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the transaction, the chief accounting officer now owns 35,526 shares in the company, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the sale, the executive vice president now directly owns 69,009 shares of the company's stock, valued at approximately $2,904,588.81. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial restated a "buy" rating and set a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on shares of Five9 in a research note on Friday, January 17th. They issued an "overweight" rating and a $46.00 target price for the company. Piper Sandler increased their price objective on shares of Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Rosenblatt Securities boosted their target price on shares of Five9 from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Five9 from $40.00 to $46.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Five9 currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Five9 Price Performance

Shares of FIVN traded up $0.55 during midday trading on Wednesday, hitting $41.20. 618,515 shares of the company traded hands, compared to its average volume of 1,116,593. The firm has a 50 day moving average of $40.73 and a 200-day moving average of $35.91. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -82.40, a PEG ratio of 9.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $77.21.

About Five9

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.