Harvey Capital Management Inc. Increases Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

Harvey Capital Management Inc. lifted its stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 17.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,030 shares of the software maker's stock after acquiring an additional 8,620 shares during the period. Harvey Capital Management Inc. owned 0.07% of Five9 worth $1,548,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FIVN. Banque Transatlantique SA acquired a new position in shares of Five9 during the 4th quarter valued at $36,000. Johnson Financial Group Inc. acquired a new position in Five9 during the fourth quarter worth $47,000. Steward Partners Investment Advisory LLC raised its holdings in Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker's stock worth $54,000 after buying an additional 1,315 shares during the last quarter. Conquis Financial LLC acquired a new position in Five9 during the fourth quarter worth $122,000. Finally, PNC Financial Services Group Inc. raised its holdings in Five9 by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock worth $156,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Buying and Selling at Five9

In other Five9 news, CFO Bryan M. Lee sold 1,798 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total transaction of $50,847.44. Following the sale, the chief financial officer directly owned 126,468 shares of the company's stock, valued at $3,576,515.04. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Leena Mansharamani sold 2,938 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $27.83, for a total transaction of $81,764.54. Following the sale, the chief accounting officer directly owned 44,901 shares in the company, valued at approximately $1,249,594.83. This trade represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,866 shares of company stock valued at $913,042. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FIVN shares. Morgan Stanley lowered their price objective on shares of Five9 from $48.00 to $28.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group lowered their price objective on shares of Five9 from $45.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Mizuho lowered their price objective on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada upped their price objective on shares of Five9 from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Barclays lowered their price objective on shares of Five9 from $60.00 to $33.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.15.

Five9 Stock Performance

FIVN traded down $1.26 during trading on Friday, hitting $26.60. 1,814,218 shares of the company traded hands, compared to its average volume of 1,779,636. The firm has a market cap of $2.03 billion, a P/E ratio of -295.52, a price-to-earnings-growth ratio of 2.66 and a beta of 1.19. The stock's fifty day moving average is $27.28 and its 200 day moving average is $31.38. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.12. Five9, Inc. has a one year low of $21.04 and a one year high of $49.90.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $279.71 million for the quarter, compared to the consensus estimate of $272.26 million. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.