RingCentral, Inc. $RNG Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its position in RingCentral, Inc. (NYSE:RNG) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,601 shares of the software maker’s stock after selling 11,881 shares during the period. Sterling Capital Management LLC’s holdings in RingCentral were worth $4,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RNG. Quantinno Capital Management LP raised its stake in shares of RingCentral by 150.4% during the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after acquiring an additional 1,187,437 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of RingCentral by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,308,949 shares of the software maker’s stock worth $48,676,000 after purchasing an additional 101,002 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of RingCentral by 28.6% during the first quarter. Bank of New York Mellon Corp now owns 585,789 shares of the software maker’s stock worth $21,785,000 after purchasing an additional 130,418 shares during the period. Principal Financial Group Inc. bought a new stake in shares of RingCentral in the first quarter worth about $13,719,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of RingCentral by 0.3% in the first quarter. Hillsdale Investment Management Inc. now owns 294,050 shares of the software maker’s stock worth $10,936,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

RingCentral News Summary

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: Raised full-year guidance: RingCentral now expects fiscal 2026 adjusted EPS of $5.07–$5.12, well above the $4.61 analyst consensus, and revenue of approximately $2.7 billion versus expectations of $2.6 billion. Fourth-quarter EPS guidance of $1.32–$1.37 also exceeds the $1.24 consensus, while revenue guidance is slightly above estimates. RingCentral guidance
• Positive Sentiment: Beat quarterly expectations: Third-quarter EPS came in at $1.33 versus the $1.28 consensus, while revenue of $676.04 million exceeded estimates of $667.30 million and increased 5.8% year over year. RingCentral Q3 earnings
• Positive Sentiment: AI growth is becoming material: Paid artificial-intelligence product annual recurring revenue surpassed $400 million, with reports indicating that AI monetization roughly doubled. This supports expectations for stronger growth and margin expansion. RingCentral long-term investor takeaways
• Positive Sentiment: Balance sheet improved: RingCentral reduced gross debt below $1 billion ahead of schedule, while earnings and cash flow improved. The company also declared a quarterly dividend of $0.125 per share, equal to a $0.50 annualized payout. RingCentral outlook and cash flow
• Neutral Sentiment: Analyst targets moved higher: Needham raised its target to $110 with a Buy rating, FBN Securities lifted its target to $105, and Morgan Stanley increased its target to $91 while retaining Equal Weight. Wells Fargo also raised its target to $85 but maintained Equal Weight, suggesting some analysts view the near-term upside as more limited.
• Neutral Sentiment: At approximately $83.46, RingCentral remains below its $98.14 52-week high but trades well above its 50-day and 200-day moving averages, indicating strong momentum alongside a higher valuation.

RingCentral Price Performance

Shares of NYSE RNG opened at $83.46 on Friday. RingCentral, Inc. has a 1 year low of $24.14 and a 1 year high of $98.14. The stock has a market cap of $6.97 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The firm has a 50-day moving average of $74.01 and a 200 day moving average of $54.24.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. RingCentral had a net margin of 25.27% and a negative return on equity of 37.87%. The business had revenue of $676.04 million for the quarter, compared to analysts’ expectations of $667.30 million. During the same quarter in the prior year, the company earned $1.13 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that RingCentral, Inc. will post 2.89 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 6th. RingCentral’s payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RNG. Wells Fargo & Company boosted their price target on RingCentral from $65.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday. Jefferies Financial Group upped their price target on RingCentral from $40.00 to $75.00 and gave the company a “hold” rating in a research report on Friday. Needham & Company LLC increased their price objective on RingCentral from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Evercore set a $90.00 price objective on RingCentral in a research report on Friday. Finally, UBS Group set a $91.00 target price on RingCentral in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, RingCentral has a consensus rating of “Hold” and an average price target of $89.69.

Insider Buying and Selling

In related news, COO Kira Makagon sold 36,185 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $70.11, for a total value of $2,536,930.35. Following the sale, the chief operating officer owned 245,385 shares in the company, valued at $17,203,942.35. This represents a 12.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 11,165 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $76.58, for a total value of $855,015.70. Following the transaction, the chief executive officer directly owned 179,106 shares of the company’s stock, valued at approximately $13,715,937.48. This trade represents a 5.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 84,625 shares of company stock worth $6,024,953 over the last three months. Corporate insiders own 7.30% of the company’s stock.

RingCentral Company Profile

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company’s offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.