RingCentral, Inc. (NYSE:RNG - Get Free Report) CAO Tarun Arora sold 1,876 shares of RingCentral stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $65.26, for a total transaction of $122,427.76. Following the transaction, the chief accounting officer owned 80,384 shares of the company's stock, valued at $5,245,859.84. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.
Tarun Arora also recently made the following trade(s):
- On Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00.
- On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The stock was sold at an average price of $42.66, for a total transaction of $39,204.54.
RingCentral Stock Performance
Shares of NYSE RNG opened at $67.07 on Tuesday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $68.45. The firm's 50-day simple moving average is $48.69 and its 200 day simple moving average is $41.96.
RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, topping 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 firm had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. During the same period in the previous year, the company posted $1.06 EPS. The company'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. On average, sell-side analysts predict that RingCentral, Inc. will post 2.88 EPS for the current year.
RingCentral Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.7%. This is a boost from RingCentral's previous quarterly dividend of $0.07. The ex-dividend date was Thursday, August 6th. RingCentral's dividend payout ratio is presently 40.00%.
Analysts Set New Price Targets
Several research firms have recently issued reports on RNG. Piper Sandler upped their target price on RingCentral from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Rosenblatt Securities reissued a "buy" rating and issued a $50.00 price target on shares of RingCentral in a report on Friday, July 24th. Morgan Stanley raised their price objective 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. Needham & Company LLC reiterated a "buy" rating on shares of RingCentral in a research note on Monday, July 20th. Finally, Jefferies Financial Group restated a "hold" rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $44.40.
Check Out Our Latest Report on RingCentral
Hedge Funds Weigh In On RingCentral
Several large investors have recently modified their holdings of the business. WealthCollab LLC lifted its stake in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker's stock valued at $26,000 after buying an additional 259 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker's stock worth $27,000 after acquiring an additional 410 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock valued at $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker's stock worth $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in RingCentral in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 98.61% of the company's stock.
About RingCentral
(
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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