RingCentral, Inc. $RNG Stock Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lessened its stake in shares of RingCentral, Inc. (NYSE:RNG) by 54.4% in the third quarter, Holdings Channel.com reports. The fund owned 325,264 shares of the software maker’s stock after selling 387,679 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in RingCentral were worth $24,297,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RNG. Fortitude Family Office LLC grew its holdings in shares of RingCentral by 128.1% in the 3rd quarter. Fortitude Family Office LLC now owns 349 shares of the software maker’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of RingCentral during the third quarter valued at $303,000. ANB Bank purchased a new stake in shares of RingCentral during the third quarter valued at $352,000. GAMMA Investing LLC lifted its holdings in shares of RingCentral by 41.1% during the third quarter. GAMMA Investing LLC now owns 3,222 shares of the software maker’s stock valued at $241,000 after purchasing an additional 938 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of RingCentral by 19.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,487 shares of the software maker’s stock valued at $410,000 after purchasing an additional 908 shares during the period. 98.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Kira Makagon sold 36,185 shares of RingCentral stock in a transaction on Monday, September 14th. The stock was sold at an average price of $70.11, for a total transaction of $2,536,930.35. Following the completion of the sale, the chief operating officer owned 245,385 shares of the company’s stock, valued at approximately $17,203,942.35. This trade represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Shenkan sold 1,264 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $78.89, for a total value of $99,716.96. Following the completion of the transaction, the director owned 28,108 shares in the company, valued at $2,217,440.12. This trade represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 84,625 shares of company stock valued at $6,024,953 in the last three months. Company insiders own 7.30% of the company’s stock.

RingCentral Stock Performance

RNG stock opened at $79.82 on Friday. The stock has a market cap of $6.67 billion, a P/E ratio of 63.85, a P/E/G ratio of 1.30 and a beta of 1.10. The firm has a 50 day simple moving average of $72.09 and a 200 day simple moving average of $52.55. RingCentral, Inc. has a 52 week low of $24.14 and a 52 week high of $81.90.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 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 firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Sell-side analysts predict that RingCentral, Inc. will post 2.89 EPS for the current year.

RingCentral Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from RingCentral’s previous quarterly dividend of $0.0750. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s dividend payout ratio (DPR) is currently 40.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RNG. Wells Fargo & Company lifted their price target on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Mizuho boosted their price objective on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Needham & Company LLC upped their price objective on shares of RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Piper Sandler raised their target price on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of RingCentral from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, RingCentral presently has a consensus rating of “Hold” and an average price target of $56.00.

RingCentral Company Profile

RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.

The company’s offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.