Key Points
- RingCentral CAO Tarun Arora sold 4,172 shares at an average price of $70.36, generating approximately $293,542. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 5.97% to 65,692 shares.
- RingCentral recently reported quarterly revenue of $657.01 million and adjusted EPS of $1.22, exceeding analyst estimates, while revenue increased 5.9% year over year. The company also raised its quarterly dividend to $0.125 per share, equivalent to a 0.7% annualized yield.
- Analyst sentiment remains mixed: four analysts rate the stock a Buy and eight rate it a Hold, with an average price target of $56.00. Shares opened at $68.81, near their 12-month high of $77.95.
RingCentral, Inc. (NYSE:RNG - Get Free Report) CAO Tarun Arora sold 4,172 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $70.36, for a total value of $293,541.92. Following the completion of the transaction, the chief accounting officer directly owned 65,692 shares in the company, valued at approximately $4,622,089.12. This trade represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tarun Arora also recently made the following trade(s):
- On Thursday, September 3rd, Tarun Arora sold 954 shares of RingCentral stock. The stock was sold at an average price of $77.00, for a total value of $73,458.00.
- On Tuesday, August 25th, Tarun Arora sold 675 shares of RingCentral stock. The stock was sold at an average price of $67.45, for a total transaction of $45,528.75.
- On Friday, August 21st, Tarun Arora sold 1,876 shares of RingCentral stock. The shares were sold at an average price of $65.26, for a total transaction of $122,427.76.
RingCentral Stock Down 0.3%
RingCentral stock opened at $68.81 on Friday. RingCentral, Inc. has a 12-month low of $24.14 and a 12-month high of $77.95. The firm's fifty day moving average is $57.92 and its 200 day moving average is $45.88. The company has a market capitalization of $5.75 billion, a PE ratio of 55.05, a PEG ratio of 1.19 and a beta of 1.14.
RingCentral (NYSE:RNG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same period in the prior year, the firm earned $1.06 earnings per share. RingCentral's revenue 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. Sell-side analysts expect that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.
RingCentral Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from RingCentral's previous quarterly dividend of $0.07. RingCentral's dividend payout ratio is presently 40.00%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on RingCentral from $43.00 to $65.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 25th. Needham & Company LLC boosted their price objective on RingCentral from $55.00 to $85.00 and gave the company a "buy" rating in a report on Friday, August 28th. Mizuho upped their target price on RingCentral from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Oppenheimer increased their target price on RingCentral from $50.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Finally, Royal Bank Of Canada started coverage on shares of RingCentral in a research report on Thursday, September 3rd. They issued an "outperform" rating and a $85.00 price target for the company. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, RingCentral has an average rating of "Hold" and an average price target of $56.00.
Read Our Latest Report on RNG
Institutional Trading of RingCentral
A number of hedge funds have recently bought and sold shares of RNG. California State Teachers Retirement System boosted its position in RingCentral by 3,720.4% in the second quarter. California State Teachers Retirement System now owns 3,166,501 shares of the software maker's stock worth $123,430,000 after purchasing an additional 3,083,616 shares during the last quarter. LSV Asset Management grew its stake in RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker's stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the period. AQR Capital Management LLC increased its position in shares of RingCentral by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker's stock valued at $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of RingCentral by 150.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker's stock valued at $73,524,000 after purchasing an additional 1,187,437 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of RingCentral during the 3rd quarter valued at $53,365,000. 98.61% of the stock is currently owned by institutional investors.
RingCentral Company Profile
(
Get Free Report)
RingCentral, Inc is a cloud communications and collaboration company that provides business communications software through a subscription-based platform. Its services are designed to help organizations manage voice, messaging, video meetings, team collaboration and other communications across devices and locations.
The company's offerings include RingEX, its unified communications platform; RingCentral Video for online meetings and collaboration; RingCentral Events for virtual and hybrid events; and contact center products, including RingCX.
Further Reading
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