Synovus Financial Corp Has $441,000 Position in Five9, Inc. (NASDAQ:FIVN)

Synovus Financial Corp trimmed its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 18.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,856 shares of the software maker’s stock after selling 2,416 shares during the quarter. Synovus Financial Corp’s holdings in Five9 were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FIVN. Norges Bank bought a new position in shares of Five9 in the 4th quarter valued at $81,280,000. Wellington Management Group LLP raised its position in Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after purchasing an additional 601,348 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Five9 by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker’s stock valued at $53,558,000 after purchasing an additional 105,265 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Five9 by 35.9% during the fourth quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker’s stock worth $21,281,000 after purchasing an additional 138,019 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Five9 by 20.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 470,909 shares of the software maker’s stock valued at $19,138,000 after buying an additional 80,689 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Insider Transactions at Five9

In related news, CAO Leena Mansharamani sold 1,135 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares in the company, valued at approximately $1,424,383. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the transaction, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock valued at $1,004,346 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Five9 Stock Down 1.3 %

FIVN stock opened at $22.32 on Friday. The stock’s 50 day simple moving average is $31.20 and its 200 day simple moving average is $35.22. The company has a market cap of $1.69 billion, a P/E ratio of -111.59, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. 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 fifty-two week low of $21.04 and a fifty-two week high of $60.81.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The firm had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. On average, research analysts expect that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FIVN has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Five9 from $48.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Five9 in a research report on Friday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Five9 in a research report on Friday, April 4th. William Blair reissued an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Finally, Mizuho cut their price objective on Five9 from $55.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and an average price target of $54.94.

Five9 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.