King Luther Capital Management Corp Has $604,000 Stock Position in Five9, Inc. $FIVN

King Luther Capital Management Corp cut its position in Five9, Inc. (NASDAQ:FIVN) by 58.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,818 shares of the software maker’s stock after selling 31,668 shares during the period. King Luther Capital Management Corp’s holdings in Five9 were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Five9 by 14.8% during the first quarter. Ameriprise Financial Inc. now owns 2,749,505 shares of the software maker’s stock valued at $74,649,000 after acquiring an additional 353,939 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Five9 by 292.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock valued at $72,745,000 after buying an additional 1,996,628 shares in the last quarter. Van Berkom & Associates Inc. increased its position in shares of Five9 by 14.2% during the first quarter. Van Berkom & Associates Inc. now owns 2,140,763 shares of the software maker’s stock worth $58,122,000 after acquiring an additional 266,484 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Five9 by 6.5% in the 1st quarter. Armistice Capital LLC now owns 2,098,000 shares of the software maker’s stock worth $56,961,000 after acquiring an additional 127,793 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Five9 by 24.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,564,920 shares of the software maker’s stock valued at $42,488,000 after acquiring an additional 308,508 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIVN. Rosenblatt Securities reissued a “buy” rating and set a $36.00 price objective on shares of Five9 in a report on Friday, August 1st. Zacks Research downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Five9 in a research note on Friday, August 1st. Cantor Fitzgerald decreased their price target on Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Wall Street Zen upgraded Five9 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $35.19.

Five9 Trading Down 2.1%

Shares of FIVN stock opened at $20.33 on Wednesday. Five9, Inc. has a 1 year low of $17.97 and a 1 year high of $49.90. The company’s fifty day simple moving average is $23.87 and its two-hundred day simple moving average is $25.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 225.91, a PEG ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 earnings per share (EPS) for the quarter. The company had revenue of $283.27 million for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. As a group, analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current year.

Five9 declared that its board has authorized a stock buyback program on Tuesday, November 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Tiffany N. Meriweather sold 7,861 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total transaction of $202,184.92. Following the completion of the transaction, the insider directly owned 218,978 shares in the company, valued at $5,632,114.16. The trade was a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bryan M. Lee sold 1,889 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total transaction of $48,585.08. Following the completion of the transaction, the chief financial officer directly owned 237,488 shares in the company, valued at approximately $6,108,191.36. The trade was a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 53,738 shares of company stock worth $1,380,677. Company insiders own 1.60% of the company’s stock.

Five9 Company 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.