RingCentral Inc. (NYSE:RNG) was up 1.6% during trading on Tuesday . The stock traded as high as $22.61 and last traded at $22.43, with a volume of 180,099 shares. The stock had previously closed at $22.08.

Several equities research analysts have commented on RNG shares. Zacks Investment Research cut shares of RingCentral from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Craig Hallum began coverage on RingCentral in a report on Thursday, July 7th. They set a “buy” rating and a $25.00 price objective on the stock. Summit Research began coverage on RingCentral in a report on Tuesday, June 28th. They set a “buy” rating on the stock. Stephens began coverage on RingCentral in a report on Wednesday, May 18th. They set an “overweight” rating on the stock. Finally, Summit Redstone restated a “buy” rating and set a $24.00 price objective on shares of RingCentral in a report on Wednesday, June 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.33.

The stock’s market capitalization is $1.63 billion. The company’s 50 day moving average is $20.66 and its 200 day moving average is $19.05.

RingCentral (NYSE:RNG) last announced its earnings results on Wednesday, April 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. During the same period in the prior year, the business posted ($0.08) EPS. The firm earned $83.90 million during the quarter, compared to analyst estimates of $81.19 million. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. Equities analysts expect that RingCentral Inc. will post $0.05 earnings per share for the current year.

In other RingCentral news, SVP John H. Marlow sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $19.36, for a total value of $38,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Praful Shah sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $19.07, for a total value of $190,700.00. Following the completion of the transaction, the senior vice president now owns 378,884 shares of the company’s stock, valued at $7,225,317.88. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in RingCentral by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 99,309 shares of the company’s stock worth $2,342,000 after buying an additional 1,552 shares in the last quarter. Swiss National Bank increased its position in RingCentral by 2.5% in the fourth quarter. Swiss National Bank now owns 68,400 shares of the company’s stock worth $1,613,000 after buying an additional 1,700 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of RingCentral by 8.0% in the fourth quarter. New York State Common Retirement Fund now owns 52,800 shares of the company’s stock valued at $1,245,000 after buying an additional 3,900 shares in the last quarter. Rhumbline Advisers increased its position in shares of RingCentral by 8.8% in the fourth quarter. Rhumbline Advisers now owns 51,700 shares of the company’s stock valued at $1,219,000 after buying an additional 4,185 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of RingCentral by 21.7% in the fourth quarter. California Public Employees Retirement System now owns 259,800 shares of the company’s stock valued at $6,126,000 after buying an additional 46,400 shares in the last quarter.

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for business communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax.

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