Boston Partners Has $2.60 Million Stock Holdings in Ringcentral, Inc. $RNG

Boston Partners raised its stake in Ringcentral, Inc. (NYSE:RNG) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,785 shares of the software maker’s stock after purchasing an additional 22,113 shares during the period. Boston Partners’ holdings in Ringcentral were worth $2,602,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RNG. Contour Asset Management LLC acquired a new stake in shares of Ringcentral during the 1st quarter worth about $45,650,000. Jacobs Levy Equity Management Inc. grew its stake in Ringcentral by 354.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 870,666 shares of the software maker’s stock valued at $21,558,000 after buying an additional 679,211 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Ringcentral by 7.9% in the 1st quarter. Ameriprise Financial Inc. now owns 7,026,565 shares of the software maker’s stock valued at $173,987,000 after acquiring an additional 512,834 shares during the period. Nuveen LLC acquired a new stake in Ringcentral during the first quarter worth approximately $12,101,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Ringcentral by 29.0% during the first quarter. Jupiter Asset Management Ltd. now owns 1,365,724 shares of the software maker’s stock worth $33,815,000 after acquiring an additional 306,971 shares during the period. 98.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ringcentral in a report on Thursday. Morgan Stanley increased their price objective on Ringcentral from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Ringcentral in a report on Tuesday, November 4th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $32.00 price target on shares of Ringcentral in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ringcentral currently has an average rating of “Hold” and an average target price of $31.54.

Insider Buying and Selling at Ringcentral

In related news, CEO Vladimir Shmunis sold 46,932 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $28.95, for a total transaction of $1,358,681.40. Following the sale, the chief executive officer owned 462,429 shares in the company, valued at approximately $13,387,319.55. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Agarwal sold 2,443 shares of Ringcentral stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $30.70, for a total transaction of $75,000.10. Following the completion of the transaction, the chief financial officer directly owned 226,448 shares in the company, valued at $6,951,953.60. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,312 shares of company stock valued at $2,315,201 in the last ninety days. 6.97% of the stock is currently owned by company insiders.

Ringcentral Stock Performance

NYSE:RNG opened at $27.27 on Friday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -194.74, a PEG ratio of 1.33 and a beta of 1.33. Ringcentral, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $42.19. The stock has a fifty day moving average price of $29.03 and a 200-day moving average price of $28.17.

Ringcentral (NYSE:RNG) last issued its quarterly earnings results on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $638.66 million for the quarter, compared to analysts’ expectations of $635.39 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.Ringcentral’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. Research analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.