RingCentral, Inc. $RNG Holdings Decreased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 42.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 763,428 shares of the software maker’s stock after selling 553,170 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in RingCentral were worth $28,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RNG. Invenomic Capital Management LP increased its stake in RingCentral by 3.9% in the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after buying an additional 55,088 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of RingCentral during the 3rd quarter valued at about $843,000. Clark Capital Management Group Inc. grew its stake in shares of RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after buying an additional 154,188 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in RingCentral by 124.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after buying an additional 50,122 shares during the last quarter. Finally, Capital World Investors increased 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 worth $332,598,000 after buying an additional 2,031,861 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Stock Down 0.6%

Shares of RNG stock opened at $36.96 on Monday. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85. The company has a market cap of $3.10 billion, a PE ratio of 39.32, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The business’s 50 day moving average is $40.81 and its two-hundred day moving average is $35.27.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The business 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%. RingCentral’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities analysts expect that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is 31.91%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Rosenblatt Securities increased their price target on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Finally, Needham & Company LLC upped their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RingCentral presently has an average rating of “Hold” and an average target price of $43.00.

Insiders Place Their Bets

In other news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the sale, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at approximately $9,049,278.96. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the transaction, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at $7,815,749.94. This represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,656 shares of company stock valued at $1,780,310 in the last quarter. Insiders own 7.30% of the company’s stock.

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.