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

King Luther Capital Management Corp lessened its holdings in Five9, Inc. (NASDAQ:FIVN) by 58.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in shares of Five9 in the 1st quarter valued at approximately $433,000. Envestnet Asset Management Inc. lifted its stake in Five9 by 55.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,543 shares of the software maker’s stock valued at $1,318,000 after purchasing an additional 17,264 shares during the last quarter. Xponance Inc. lifted its stake in Five9 by 4.4% in the 1st quarter. Xponance Inc. now owns 9,835 shares of the software maker’s stock valued at $267,000 after purchasing an additional 414 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Five9 by 254.2% in the first quarter. Segall Bryant & Hamill LLC now owns 763,310 shares of the software maker’s stock valued at $20,724,000 after buying an additional 547,794 shares in the last quarter. Finally, Napatree Capital LLC bought a new stake in shares of Five9 during the first quarter worth $659,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

FIVN has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Piper Sandler dropped their target price on Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Five9 in a research note on Wednesday, October 8th. Zacks Research lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 target price on shares of Five9 in a research report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Five9 has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Five9 Stock Down 2.1%

Shares of NASDAQ FIVN opened at $20.33 on Wednesday. The company’s 50 day moving average price is $23.87 and its 200-day moving average price is $25.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 4.44 and a current ratio of 4.44. Five9, Inc. has a 52-week low of $17.97 and a 52-week high of $49.90. The company has a market capitalization of $1.57 billion, a P/E ratio of 225.91, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27.

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

Five9 announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 11th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Michael Burkland sold 18,425 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $473,891.00. Following the completion of the transaction, the chief executive officer directly owned 367,562 shares of the company’s stock, valued at approximately $9,453,694.64. This trade represents a 4.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 2,969 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.85, for a total value of $76,748.65. Following the completion of the transaction, the chief accounting officer directly owned 41,522 shares in the company, valued at $1,073,343.70. This represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 53,738 shares of company stock worth $1,380,677. 1.60% of the stock is owned by insiders.

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.