IFP Advisors Inc Increases Stake in RingCentral, Inc. $RNG

IFP Advisors Inc lifted its position in RingCentral, Inc. (NYSE:RNG) by 2,597.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,068 shares of the software maker’s stock after acquiring an additional 95,396 shares during the quarter. IFP Advisors Inc’s holdings in RingCentral were worth $3,862,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RNG. WealthCollab LLC raised its position in RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. boosted its position in shares of RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after buying an additional 410 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of RingCentral by 269.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after buying an additional 738 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after buying an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of RingCentral in the third quarter worth approximately $30,000. 98.61% of the stock is currently owned by institutional investors.

RingCentral Trading Down 1.2%

Shares of RingCentral stock opened at $68.79 on Friday. The stock’s fifty day moving average price is $57.35 and its 200-day moving average price is $45.72. The firm has a market cap of $5.74 billion, a P/E ratio of 55.03, a P/E/G ratio of 1.20 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $77.95.

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 analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $657.01 million for 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm 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. Analysts forecast that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.7%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RNG. Wells Fargo & Company boosted their price objective on RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 25th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Piper Sandler upped their price target on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Needham & Company LLC raised their price target on shares of RingCentral from $55.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Royal Bank Of Canada began coverage on shares of RingCentral in a report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.00.

Insiders Place Their Bets

In other news, CAO Tarun Arora sold 954 shares of RingCentral stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $77.00, for a total value of $73,458.00. Following the transaction, the chief accounting officer owned 69,864 shares of the company’s stock, valued at $5,379,528. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Shenkan sold 1,265 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This trade represents a 4.13% decrease in their position. 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. In the last ninety days, insiders sold 46,799 shares of company stock worth $3,248,018. Insiders own 7.30% of the company’s stock.

RingCentral Profile

RingCentral, Inc is a cloud communications and collaboration company that provides business communications software through a subscription-based platform. Its services are designed to help organizations manage voice, messaging, video meetings, team collaboration and other communications across devices and locations.

The company’s offerings include RingEX, its unified communications platform; RingCentral Video for online meetings and collaboration; RingCentral Events for virtual and hybrid events; and contact center products, including RingCX.