Key Points
- RingCentral director Robert Theis sold 2,530 shares on July 2 for about $101,908 at an average price of $40.28. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owns 30,834 shares.
- The stock was down 2.2% and opened at $40.07, leaving RingCentral with a market cap of about $3.36 billion. Shares have traded between a 12-month low of $23.59 and a high of $49.85.
- RingCentral recently beat quarterly EPS and revenue estimates, reporting $1.20 EPS on $644.2 million in revenue, and it reaffirmed FY2026 guidance. Analysts currently rate the stock a Hold on average, with a consensus target price of $43.
RingCentral, Inc. (NYSE:RNG - Get Free Report) Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the sale, the director owned 29,372 shares in the company, valued at $1,192,209.48. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RingCentral Trading Down 2.2%
RingCentral stock opened at $40.07 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. RingCentral, Inc. has a 1-year low of $23.59 and a 1-year high of $49.85. The company has a fifty day simple moving average of $40.75 and a 200 day simple moving average of $35.52.
RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm had revenue of $644.20 million for the quarter, compared to analysts' expectations of $642.73 million. During the same period in the previous year, the firm posted $1.00 EPS. The company'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. On average, equities research analysts forecast that RingCentral, Inc. will post 2.78 EPS for the current year.
RingCentral Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral's payout ratio is currently 31.91%.
Institutional Investors Weigh In On RingCentral
Hedge funds have recently added to or reduced their stakes in the business. Invenomic Capital Management LP increased its holdings in shares of RingCentral by 3.9% in the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker's stock valued at $42,013,000 after purchasing an additional 55,088 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of RingCentral during the 3rd quarter worth about $843,000. Clark Capital Management Group Inc. boosted its holdings in shares of RingCentral by 103.3% during the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker's stock worth $8,600,000 after buying an additional 154,188 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker's stock worth $2,608,000 after buying an additional 50,122 shares during the period. Finally, Capital World Investors grew its stake in RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker's stock valued at $332,598,000 after buying an additional 2,031,861 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on RNG shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Morgan Stanley increased their price objective on RingCentral from $33.00 to $40.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Wells Fargo & Company lifted their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $43.00.
View Our Latest Analysis on RingCentral
RingCentral Company Profile
(
Get Free Report)
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.
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