RingCentral (NYSE:RNG) Director Amy Guggenheim Shenkan Sells 1,265 Shares of Stock

RingCentral, Inc. (NYSE:RNG) Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the sale, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Trading Down 2.2%

Shares of RNG stock traded down $0.92 during trading hours on Thursday, hitting $40.07. 1,351,183 shares of the company were exchanged, compared to its average volume of 1,443,254. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85. The firm has a fifty day simple moving average of $40.75 and a 200 day simple moving average of $35.52. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.63, a P/E/G ratio of 1.21 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. During the same period last year, the business posted $1.00 earnings per share. The business’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. Sell-side analysts anticipate that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Announces Dividend

The business also recently announced 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 0.7%. RingCentral’s dividend payout ratio (DPR) is currently 31.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RNG shares. Morgan Stanley upped their target price on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research report on Friday, May 8th. Needham & Company LLC upped their price target on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Rosenblatt Securities lifted their price objective on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.00.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its stake in RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of RingCentral in the 3rd quarter worth about $53,365,000. LSV Asset Management boosted its position in RingCentral by 142.4% during 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. Quantinno Capital Management LP grew its holdings in shares of RingCentral by 150.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after acquiring an additional 1,187,437 shares during the period. Finally, AQR Capital Management LLC raised its position 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 worth $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Hedge funds and other 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.