Globeflex Capital L P Makes New $4.47 Million Investment in RingCentral, Inc. $RNG

Globeflex Capital L P bought a new position in shares of RingCentral, Inc. (NYSE:RNG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 114,766 shares of the software maker’s stock, valued at approximately $4,474,000. Globeflex Capital L P owned approximately 0.14% of RingCentral as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new position in shares of RingCentral in the second quarter valued at about $409,000. Foster & Motley Inc. acquired a new stake in RingCentral in the 2nd quarter worth about $394,000. Plato Investment Management Ltd bought a new stake in RingCentral in the 2nd quarter valued at about $117,000. Wedge Capital Management L L P NC boosted its holdings in RingCentral by 29.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 108,784 shares of the software maker’s stock valued at $4,240,000 after purchasing an additional 24,508 shares during the period. Finally, Insight Wealth Strategies LLC acquired a new position in shares of RingCentral during the 2nd quarter worth approximately $6,636,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RNG. Robert W. Baird set a $45.00 target price on shares of RingCentral in a report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Mizuho lifted their price objective on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.40.

RingCentral Price Performance

Shares of NYSE:RNG opened at $66.92 on Monday. The company’s 50 day simple moving average is $48.11 and its 200 day simple moving average is $41.66. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a 1 year low of $24.14 and a 1 year high of $68.45.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, analysts anticipate that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. This is an increase from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling at RingCentral

In other news, CAO Tarun Arora sold 3,615 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the completion of the transaction, the chief accounting officer owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the sale, the director owned 29,372 shares in the company, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 34,052 shares of company stock worth $1,506,498 over the last quarter. 7.30% of the stock is currently owned by company insiders.

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.