Robert Theis Sells 2,530 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) Director Robert Theis sold 2,530 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total value of $101,908.40. Following the sale, the director owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Trading Up 0.2%

RNG opened at $40.07 on Friday. The stock has a fifty day moving average price of $40.72 and a 200 day moving average price of $35.55. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 1.18 and a beta of 1.14.

RingCentral (NYSE:RNG) last issued its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the firm posted $1.00 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, sell-side analysts forecast that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. RingCentral’s dividend payout ratio is currently 31.91%.

Wall Street Analysts Forecast Growth

RNG has been the subject of a number of analyst reports. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Oppenheimer restated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Needham & Company LLC raised their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Rosenblatt Securities lifted their price objective on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company upped their price objective on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.00.

Institutional Investors Weigh In On RingCentral

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in RingCentral by 2.3% during the second quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock worth $449,000 after purchasing an additional 259 shares during the period. Janus Henderson Group PLC raised its position in shares of RingCentral by 412.7% in the first quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock valued at $6,620,000 after purchasing an additional 143,254 shares during the period. California State Teachers Retirement System raised its position in shares of RingCentral by 14.3% in the first quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock valued at $3,082,000 after purchasing an additional 10,341 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of RingCentral by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock worth $511,000 after buying an additional 1,246 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of RingCentral by 150.4% in the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after buying an additional 1,187,437 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Company 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.