Mackenzie Financial Corp Takes $646,000 Position in Five9, Inc. (NASDAQ:FIVN)

Key Points

• Mackenzie Financial Corp has acquired a new position in Five9, Inc. worth approximately $646,000 during the first quarter, purchasing 23,782 shares of the software maker's stock.
• A number of other institutional investors have also increased their holdings in Five9, with 96.64% of the stock currently owned by institutional investors and hedge funds.
• Five9's recent earnings report showed an EPS of $0.76, beating estimates by $0.11 and reflecting a 12.4% increase in revenue compared to the same quarter last year.

Mackenzie Financial Corp purchased a new position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,782 shares of the software maker's stock, valued at approximately $646,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Five9 by 353.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock worth $97,356,000 after purchasing an additional 1,867,137 shares during the period. Sylebra Capital LLC boosted its stake in Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock worth $152,228,000 after purchasing an additional 1,396,496 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Five9 in the 4th quarter worth about $51,061,000. Wellington Management Group LLP boosted its stake in Five9 by 50.9% in the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock worth $72,496,000 after purchasing an additional 601,348 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Five9 in the 1st quarter worth about $15,777,000. Institutional investors own 96.64% of the company's stock.

Five9 Price Performance

Shares of NASDAQ FIVN traded down $0.90 during trading hours on Friday, reaching $24.39. 2,427,527 shares of the stock traded hands, compared to its average volume of 2,119,038. The company has a market capitalization of $1.88 billion, a P/E ratio of 271.03, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17. 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 52-week low of $21.04 and a 52-week high of $49.90. The company's 50-day simple moving average is $27.26 and its two-hundred day simple moving average is $29.56.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The software maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.11. Five9 had a return on equity of 8.91% and a net margin of 0.80%. The firm had revenue of $283.27 million during the quarter, compared to the consensus estimate of $275.18 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business's revenue was up 12.4% on a year-over-year basis. Equities research analysts forecast that Five9, Inc. will post 0.28 EPS for the current year.

Insider Transactions at Five9

In other Five9 news, President Andy Dignan sold 4,845 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $28.18, for a total value of $136,532.10. Following the completion of the sale, the president owned 227,839 shares in the company, valued at approximately $6,420,503.02. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Burkland sold 5,475 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total value of $154,833.00. Following the completion of the sale, the chief executive officer owned 385,987 shares of the company's stock, valued at $10,915,712.36. The trade was a 1.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,566 shares of company stock valued at $931,354. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

FIVN has been the subject of several analyst reports. DA Davidson upgraded Five9 to a "hold" rating in a research note on Monday, August 4th. Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price target on shares of Five9 in a research report on Friday, August 1st. Morgan Stanley dropped their price target on Five9 from $48.00 to $28.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Barclays dropped their price target on Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Needham & Company LLC dropped their price target on Five9 from $52.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Five9 presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

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.