Key Points
- RingCentral Director Amy Shenkan sold 1,264 shares for approximately $99,717 under a pre-arranged Rule 10b5-1 trading plan, reducing her direct holdings by 4.3% to 28,108 shares.
- RingCentral reported quarterly EPS of $1.22, exceeding the $1.16 consensus estimate, while revenue rose 5.9% year over year to $657.01 million.
- The company increased its quarterly dividend to $0.125 per share, or $0.50 annually, while analysts maintained a consensus “Hold” rating with a $56 price target.
RingCentral, Inc. (NYSE:RNG - Get Free Report) Director Amy Shenkan sold 1,264 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $78.89, for a total transaction of $99,716.96. Following the completion of the transaction, the director directly owned 28,108 shares of the company's stock, valued at $2,217,440.12. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RingCentral Trading Down 2.2%
RNG opened at $77.30 on Wednesday. The company has a market cap of $6.45 billion, a P/E ratio of 61.84, a PEG ratio of 1.37 and a beta of 1.10. The company's 50 day moving average is $69.33 and its 200-day moving average is $50.53. RingCentral, Inc. has a 1-year low of $24.14 and a 1-year high of $81.90.
RingCentral (NYSE:RNG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to analysts' expectations of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. 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, equities analysts forecast that RingCentral, Inc. will post 2.89 EPS for the current year.
RingCentral Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.6%. This is a boost from RingCentral's previous quarterly dividend of $0.0750. The ex-dividend date was Thursday, August 6th. RingCentral's dividend payout ratio (DPR) is currently 40.00%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in RingCentral during the 2nd quarter worth $113,000. IFP Advisors Inc lifted its stake in shares of RingCentral by 2,597.9% in the second quarter. IFP Advisors Inc now owns 99,068 shares of the software maker's stock worth $3,862,000 after acquiring an additional 95,396 shares during the period. Baird Financial Group Inc. boosted its holdings in RingCentral by 7.7% in the second quarter. Baird Financial Group Inc. now owns 254,432 shares of the software maker's stock valued at $9,918,000 after acquiring an additional 18,220 shares during the last quarter. Nykredit A S acquired a new stake in RingCentral during the 2nd quarter valued at approximately $63,000. Finally, Corient Private Wealth LP increased its position in RingCentral by 144.3% during the 2nd quarter. Corient Private Wealth LP now owns 250,095 shares of the software maker's stock valued at $9,749,000 after purchasing an additional 147,710 shares during the period. 98.61% of the stock is owned by institutional investors.
Analyst Ratings Changes
RNG has been the topic of several recent research reports. Piper Sandler raised their price objective on RingCentral from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Wells Fargo & Company increased their target price on RingCentral from $43.00 to $65.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 25th. Rosenblatt Securities reissued a "buy" rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Oppenheimer boosted their price target on RingCentral from $50.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Finally, Mizuho upped their price objective on RingCentral from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $56.00.
Read Our Latest Report on RingCentral
About RingCentral
(
Get Free Report)
RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.
The company's offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.
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