RingCentral (NYSE:RNG) CAO Tarun Arora Sells 1,876 Shares

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 1,876 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $65.26, for a total transaction of $122,427.76. Following the completion of the transaction, the chief accounting officer directly owned 80,384 shares of the company’s stock, valued at approximately $5,245,859.84. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Tarun Arora also recently made the following trade(s):

• On Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $155,445.00.
• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The stock was sold at an average price of $42.66, for a total value of $39,204.54.

RingCentral Stock Up 0.1%

RingCentral stock traded up $0.06 during trading hours on Monday, hitting $67.07. The stock had a trading volume of 1,041,981 shares, compared to its average volume of 2,103,548. The business’s 50 day simple moving average is $48.11 and its 200-day simple moving average is $41.66. RingCentral, Inc. has a one year low of $24.14 and a one year high of $68.45. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 53.66, a P/E/G ratio of 1.16 and a beta of 1.10.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Research 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 paid a $0.125 dividend. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 price target on shares of RingCentral in a research report on Friday, July 24th. Morgan Stanley boosted their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Piper Sandler increased their price objective on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Robert W. Baird set a $45.00 target price on shares of RingCentral in a report on Friday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in RingCentral by 3,720.4% in the second quarter. California State Teachers Retirement System now owns 3,166,501 shares of the software maker’s stock valued at $123,430,000 after acquiring an additional 3,083,616 shares during the period. LSV Asset Management lifted its holdings in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC raised its holdings in RingCentral by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after buying an additional 523,966 shares during the last quarter. Quantinno Capital Management LP boosted its stake in RingCentral by 150.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after purchasing an additional 1,187,437 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in RingCentral in the 3rd quarter valued at $53,365,000. Institutional investors own 98.61% of the company’s stock.

About RingCentral

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.