Pacer Advisors Inc. Has $20.54 Million Stock Position in RingCentral, Inc. $RNG

Pacer Advisors Inc. lessened its stake in RingCentral, Inc. (NYSE:RNG) by 13.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 552,398 shares of the software maker’s stock after selling 85,464 shares during the quarter. Pacer Advisors Inc.’s holdings in RingCentral were worth $20,544,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. WealthCollab LLC raised its holdings in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. boosted its stake in RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC increased its holdings in RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of RingCentral in the 3rd quarter valued at about $30,000. Institutional investors own 98.61% of the company’s stock.

Insider Activity at RingCentral

In other news, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99. Following the completion of the sale, the chief financial officer owned 169,282 shares in the company, valued at approximately $7,815,749.94. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Robert I. Theis sold 2,530 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total transaction of $101,908.40. Following the sale, the director directly owned 30,834 shares of the company’s stock, valued at $1,241,993.52. The trade was a 7.58% 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. Insiders have sold a total of 38,628 shares of company stock worth $1,656,201 in the last quarter. 7.30% of the stock is owned by corporate insiders.

RingCentral Trading Up 2.7%

Shares of NYSE RNG opened at $57.14 on Tuesday. The company has a market capitalization of $4.77 billion, a P/E ratio of 45.71, a P/E/G ratio of 0.97 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $58.98. The stock has a 50 day moving average of $41.99 and a 200-day moving average of $37.97.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business had revenue of $657.01 million for the quarter, compared to analysts’ expectations of $650.53 million. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. 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 predict that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This is a boost from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. RingCentral’s payout ratio is currently 40.00%.

Analyst Ratings Changes

RNG has been the topic of several research reports. Wells Fargo & Company boosted their target price on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Piper Sandler boosted their price objective on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley increased 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. Finally, Mizuho lifted their price target on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.40.

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.