RingCentral (NYSE:RNG) CAO Sells $39,204.54 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 919 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $42.66, for a total value of $39,204.54. Following the completion of the transaction, the chief accounting officer owned 71,715 shares in the company, valued at $3,059,361.90. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The shares were sold at an average price of $40.69, for a total value of $359,699.60.
• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The stock was sold at an average price of $36.14, for a total value of $134,549.22.

RingCentral Stock Up 3.8%

Shares of RNG opened at $43.45 on Friday. The stock has a fifty day simple moving average of $40.06 and a two-hundred day simple moving average of $33.65. The company has a market capitalization of $3.64 billion, a PE ratio of 46.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $48.57.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 33.75% and a net margin of 3.31%.RingCentral’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $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. As a group, equities analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RNG shares. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Needham & Company LLC lifted their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Piper Sandler lifted their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Finally, Rosenblatt Securities boosted their target price on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.00.

Institutional Investors Weigh In On RingCentral

Several institutional investors have recently added to or reduced their stakes in the business. WealthCollab LLC lifted its stake in RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in RingCentral by 3.1% during the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after purchasing an additional 362 shares during the last quarter. Rothschild Investment LLC lifted its stake in RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after purchasing an additional 366 shares during the last quarter. Sovereign Financial Group Inc. increased its position in RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after buying an additional 409 shares during the period. Finally, Meeder Asset Management Inc. increased its position in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after buying an additional 410 shares during the period. Hedge funds and other institutional investors own 98.61% 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.