RingCentral (NYSE:RNG) Director Sells $99,716.96 in Stock

RingCentral, Inc. (NYSE:RNG) Director Amy Shenkan sold 1,264 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $78.89, for a total transaction of $99,716.96. Following the transaction, the director owned 28,108 shares in the company, valued at $2,217,440.12. The trade was a 4.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Trading Up 2.4%

NYSE RNG opened at $78.41 on Friday. RingCentral, Inc. has a 12-month low of $24.14 and a 12-month high of $81.90. The company has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $51.09. The stock has a market cap of $6.55 billion, a P/E ratio of 62.73, a P/E/G ratio of 1.33 and a beta of 1.10.

RingCentral (NYSE:RNG) last announced its quarterly earnings data 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 net margin of 4.27% and a negative return on equity of 34.49%. The firm had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same period in the previous year, the company earned $1.06 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, sell-side analysts forecast that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Oppenheimer upped their target price on RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Mizuho raised their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, July 24th. Finally, Royal Bank Of Canada initiated coverage on shares of RingCentral in a report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.00.

Institutional Investors Weigh In On RingCentral

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of RingCentral by 41.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,222 shares of the software maker’s stock valued at $241,000 after acquiring an additional 938 shares during the period. Farther Finance Advisors LLC increased its stake 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 in the last quarter. Elevation Wealth Partners LLC raised its holdings in RingCentral by 119.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker’s stock worth $41,000 after purchasing an additional 297 shares during the period. Integrated Wealth Concepts LLC acquired a new position in RingCentral in the 2nd quarter worth about $113,000. Finally, IFP Advisors Inc boosted its position in RingCentral by 2,597.9% during the second quarter. IFP Advisors Inc now owns 99,068 shares of the software maker’s stock worth $3,862,000 after purchasing an additional 95,396 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.