Hsbc Holdings PLC Acquires 44,018 Shares of RingCentral, Inc. $RNG

Hsbc Holdings PLC increased its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 76.7% in the 4th quarter, HoldingsChannel reports. The firm owned 101,445 shares of the software maker’s stock after acquiring an additional 44,018 shares during the period. Hsbc Holdings PLC’s holdings in RingCentral were worth $2,934,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors boosted its holdings in shares of RingCentral by 20.9% during the 3rd 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 in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of RingCentral during the 3rd quarter worth approximately $53,365,000. LSV Asset Management increased its stake 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 valued at $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of RingCentral by 138.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after acquiring an additional 471,559 shares during the period. 98.61% of the stock is currently owned by institutional investors.

RingCentral Price Performance

RNG opened at $36.96 on Monday. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.32, a P/E/G ratio of 1.09 and a beta of 1.14. The firm’s fifty day moving average price is $40.81 and its two-hundred day moving average price is $35.27.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. 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 EPS for the current year.

RingCentral Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Tarun Arora sold 3,615 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was 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 directly owned 68,100 shares of the company’s stock, valued at $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 SEC, which is available at 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. Also, COO Kira Makagon sold 16,988 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,656 shares of company stock valued at $1,780,310 in the last 90 days. 7.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNG. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Morgan Stanley upped their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price objective on shares of RingCentral in a research report on Saturday, May 9th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Needham & Company LLC boosted their target price on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, RingCentral currently has an average rating of “Hold” and a consensus target price of $43.00.

RingCentral 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.