First Trust Advisors LP Has $45.58 Million Holdings in RingCentral, Inc. $RNG

First Trust Advisors LP boosted its holdings in RingCentral, Inc. (NYSE:RNG) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,608,188 shares of the software maker’s stock after acquiring an additional 173,616 shares during the quarter. First Trust Advisors LP owned 1.78% of RingCentral worth $45,576,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. LSV Asset Management purchased a new stake in shares of RingCentral in the third quarter worth approximately $33,577,000. AQR Capital Management LLC boosted its position in shares of RingCentral by 27.6% during the second quarter. AQR Capital Management LLC now owns 1,626,454 shares of the software maker’s stock valued at $45,728,000 after buying an additional 351,347 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of RingCentral by 50.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 812,518 shares of the software maker’s stock valued at $23,035,000 after buying an additional 274,037 shares during the last quarter. Marshall Wace LLP grew its holdings in RingCentral by 17.0% during the second quarter. Marshall Wace LLP now owns 1,719,269 shares of the software maker’s stock worth $48,741,000 after buying an additional 249,329 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in RingCentral by 22.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after buying an additional 228,202 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Trading Down 4.5%

RNG stock opened at $38.85 on Thursday. The stock has a market cap of $3.36 billion, a P/E ratio of 80.95, a P/E/G ratio of 1.60 and a beta of 1.14. The stock’s fifty day simple moving average is $30.60 and its two-hundred day simple moving average is $29.67. RingCentral, Inc. has a 1-year low of $20.58 and a 1-year high of $42.42.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $644.03 million during the quarter, compared to analyst estimates of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, analysts forecast that RingCentral, Inc. will post 1.29 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 annualized dividend and a yield of 0.8%. RingCentral’s payout ratio is currently 62.50%.

Insider Activity at RingCentral

In other news, CAO Tarun Arora sold 8,840 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60. Following the completion of the sale, the chief accounting officer owned 75,492 shares in the company, valued at $3,071,769.48. This trade represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kira Makagon sold 46,960 shares of RingCentral stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the completion of the sale, the chief operating officer directly owned 369,524 shares in the company, valued at $13,114,406.76. This trade represents a 11.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 259,526 shares of company stock valued at $9,225,128 in the last three months. Insiders own 7.30% of the company’s stock.

Wall Street Analysts Forecast Growth

RNG has been the topic of several recent analyst reports. Piper Sandler raised their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Morgan Stanley upped their target price on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. UBS Group set a $38.00 price target on shares of RingCentral in a report on Friday, February 20th. Finally, Rosenblatt Securities upped their price objective on shares of RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.04.

RingCentral Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.