Clark Capital Management Group Inc. Acquires 154,188 Shares of RingCentral, Inc. $RNG

Clark Capital Management Group Inc. grew its holdings in RingCentral, Inc. (NYSE:RNG) by 103.3% during the third quarter, HoldingsChannel.com reports. The firm owned 303,455 shares of the software maker’s stock after acquiring an additional 154,188 shares during the quarter. Clark Capital Management Group Inc.’s holdings in RingCentral were worth $8,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in RingCentral in the 3rd quarter worth about $600,000. Algert Global LLC boosted its position in RingCentral by 89.3% in the 3rd quarter. Algert Global LLC now owns 170,779 shares of the software maker’s stock valued at $4,840,000 after buying an additional 80,560 shares during the period. Alliancebernstein L.P. boosted its position in RingCentral by 66.0% in the 3rd quarter. Alliancebernstein L.P. now owns 150,097 shares of the software maker’s stock valued at $4,254,000 after buying an additional 59,703 shares during the period. Creative Planning grew its stake in RingCentral by 41.5% in the 3rd quarter. Creative Planning now owns 13,689 shares of the software maker’s stock worth $388,000 after acquiring an additional 4,014 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in RingCentral by 65.8% in the 3rd quarter. Lazard Asset Management LLC now owns 440,932 shares of the software maker’s stock worth $12,496,000 after acquiring an additional 174,969 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Vladimir Shmunis sold 95,831 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value of $3,410,625.29. Following the completion of the transaction, the chief executive officer directly owned 126,685 shares of the company’s stock, valued at approximately $4,508,719.15. The trade was a 43.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Tarun Arora sold 8,840 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the sale, the chief accounting officer owned 75,492 shares of the company’s stock, valued at $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 259,526 shares of company stock valued at $9,225,128. 7.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RNG shares. Needham & Company LLC lifted their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird increased their price objective on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Oppenheimer restated an “outperform” rating on shares of RingCentral in a report on Friday, February 20th. UBS Group set a $38.00 target price on RingCentral in a research report on Friday, February 20th. Finally, Rosenblatt Securities increased their price target on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.63.

RingCentral Stock Performance

Shares of RNG opened at $37.76 on Monday. The company has a 50 day moving average price of $30.99 and a 200-day moving average price of $29.76. RingCentral, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $42.42. The stock has a market capitalization of $3.27 billion, a PE ratio of 78.66, a PEG ratio of 1.49 and a beta of 1.14.

RingCentral (NYSE:RNG) last issued its quarterly earnings data 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 company had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. RingCentral’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Equities research analysts forecast that RingCentral, Inc. will post 1.29 EPS for the current year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.075 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is currently 62.50%.

RingCentral Company 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.