Synovus Financial Corp Has $746,000 Holdings in Five9, Inc. (NASDAQ:FIVN)

Synovus Financial Corp lessened its stake in Five9, Inc. (NASDAQ:FIVN) by 15.8% in the first quarter, Holdings Channel reports. The firm owned 4,772 shares of the software maker’s stock after selling 894 shares during the quarter. Synovus Financial Corp’s holdings in Five9 were worth $746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Five9 by 12.4% in the first quarter. BlackRock Inc. now owns 4,066,902 shares of the software maker’s stock valued at $635,776,000 after purchasing an additional 449,754 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Five9 by 1.7% during the first quarter. Wasatch Advisors Inc. now owns 2,827,659 shares of the software maker’s stock worth $442,048,000 after acquiring an additional 47,097 shares in the last quarter. Oak Ridge Investments LLC raised its stake in Five9 by 819.3% during the first quarter. Oak Ridge Investments LLC now owns 1,077,663 shares of the software maker’s stock worth $168,471,000 after acquiring an additional 960,440 shares in the last quarter. Wells Fargo & Company MN raised its stake in Five9 by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,050,848 shares of the software maker’s stock worth $183,267,000 after acquiring an additional 64,227 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Five9 by 17.3% during the fourth quarter. Nuveen Asset Management LLC now owns 647,111 shares of the software maker’s stock worth $112,857,000 after acquiring an additional 95,578 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Five9 stock opened at $165.36 on Friday. The company has a market cap of $11.09 billion, a PE ratio of -232.90 and a beta of 0.49. Five9, Inc. has a 52-week low of $98.00 and a 52-week high of $201.75. The stock’s 50 day simple moving average is $170.76. The company has a debt-to-equity ratio of 5.42, a current ratio of 6.50 and a quick ratio of 6.50.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, April 29th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.35. The firm had revenue of $137.88 million for the quarter, compared to analysts’ expectations of $122.55 million. Five9 had a positive return on equity of 0.23% and a negative net margin of 9.84%. Sell-side analysts expect that Five9, Inc. will post -0.41 earnings per share for the current fiscal year.

In other news, CAO Leena Mansharamani sold 2,198 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $156.49, for a total transaction of $343,965.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Welch sold 10,263 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $156.96, for a total value of $1,610,880.48. Following the transaction, the executive vice president now directly owns 40,878 shares in the company, valued at $6,416,210.88. The disclosure for this sale can be found here. Insiders have sold a total of 126,406 shares of company stock worth $20,677,364 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Several brokerages have commented on FIVN. Barclays boosted their target price on Five9 from $182.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 23rd. Zacks Investment Research upgraded Five9 from a “sell” rating to a “hold” rating in a report on Wednesday, May 5th. Truist boosted their price target on Five9 from $165.00 to $215.00 in a report on Tuesday, February 23rd. Piper Sandler boosted their price target on Five9 from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 30th. Finally, Wells Fargo & Company boosted their price target on Five9 from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Tuesday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Five9 currently has an average rating of “Buy” and a consensus target price of $198.44.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers 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.

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Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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