Heritage Investors Management Corp Sells 21,965 Shares of RingCentral, Inc. $RNG

Heritage Investors Management Corp decreased its position in RingCentral, Inc. (NYSE:RNG) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,471 shares of the software maker’s stock after selling 21,965 shares during the period. Heritage Investors Management Corp owned 0.12% of RingCentral worth $3,104,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in RingCentral by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after acquiring an additional 129,444 shares during the last quarter. Capital World Investors boosted its holdings in RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in RingCentral in the third quarter valued at about $53,365,000. Marshall Wace LLP boosted its holdings in RingCentral by 4.4% in the third quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after acquiring an additional 75,709 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in RingCentral by 27.6% in 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 acquiring an additional 351,347 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird set a $45.00 target price on RingCentral in a report on Friday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Rosenblatt Securities raised their target price on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Finally, Needham & Company LLC raised their target price on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Insider Buying and Selling at RingCentral

In other news, CEO Vladimir Shmunis sold 95,831 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total transaction 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 $4,508,719.15. This trade represents a 43.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tarun Arora sold 8,840 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 75,492 shares in the company, valued at $3,071,769.48. This trade represents a 10.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,158 shares of company stock valued at $7,906,365 over the last quarter. Insiders own 7.30% of the company’s stock.

RingCentral Stock Up 3.2%

Shares of RNG opened at $43.57 on Friday. The stock has a market capitalization of $3.66 billion, a P/E ratio of 46.35, a P/E/G ratio of 1.24 and a beta of 1.13. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $48.57. The company has a 50 day moving average of $39.56 and a 200-day moving average of $33.13.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, sell-side analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is currently 31.91%.

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.