Five9 Inc. (NASDAQ:FIVN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Five9 provides cloud software for contact centers. The Company offers software products such as workforce management, speech recognition, predictive dialer, and voice applications. It offers virtual contact center cloud platform that acts as the hub for interactions between its clients and their customers, enabling contact center operations focused on inbound or outbound customer interactions in a single unified architecture. The Company serves customers in various industries, including banking and financial services, business process outsourcers, consumer, healthcare, and technology. Five9, Inc. is headquartered in San Ramon, California. “

A number of other equities research analysts also recently issued reports on FIVN. Needham & Company LLC increased their target price on shares of Five9 from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Barclays PLC increased their target price on shares of Five9 from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, Bank of America Corp. reiterated a “sell” rating and issued a $13.00 target price on shares of Five9 in a research report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Five9 has an average rating of “Buy” and a consensus target price of $15.13.

Analyst Recommendations for Five9 (NASDAQ:FIVN)

Shares of Five9 (NASDAQ:FIVN) opened at 15.83 on Tuesday. Five9 has a 52 week low of $6.14 and a 52 week high of $16.40. The firm’s market cap is $838.48 million. The stock has a 50 day moving average of $14.50 and a 200-day moving average of $13.29.

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In related news, insider Daniel P. Burkland sold 2,626 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.75, for a total value of $41,359.50. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $1,919,814.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jayendra Das sold 500,000 shares of the firm’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $15.40, for a total transaction of $7,700,000.00. The disclosure for this sale can be found here. 40.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Five9 during the second quarter worth about $115,000. State Board of Administration of Florida Retirement System bought a new stake in Five9 during the second quarter valued at about $130,000. BlackRock Inc. raised its stake in Five9 by 721.3% in the second quarter. BlackRock Inc. now owns 11,941 shares of the company’s stock valued at $142,000 after buying an additional 10,487 shares in the last quarter. TFS Capital LLC bought a new stake in Five9 during the second quarter valued at about $174,000. Finally, California Public Employees Retirement System raised its stake in Five9 by 3.3% in the second quarter. California Public Employees Retirement System now owns 15,500 shares of the company’s stock valued at $184,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 89.72% of the company’s stock.

About Five9

Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.

5 Day Chart for NASDAQ:FIVN

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