RingCentral, Inc. (NYSE:RNG) Short Interest Down 24.4% in February

RingCentral, Inc. (NYSE:RNG) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 8,318,001 shares, a drop of 24.4% from the February 12th total of 10,998,242 shares. Approximately 10.4% of the shares of the stock are sold short. Based on an average daily volume of 4,775,693 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 4,775,693 shares, the short-interest ratio is currently 1.7 days. Approximately 10.4% of the shares of the stock are sold short.

RingCentral Stock Down 1.0%

RingCentral stock traded down $0.39 during mid-day trading on Monday, reaching $37.39. 1,633,947 shares of the company’s stock traded hands, compared to its average volume of 3,353,483. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.49 and a beta of 1.14. The stock has a 50 day moving average of $31.18 and a two-hundred day moving average of $29.81. RingCentral has a 12-month low of $20.58 and a 12-month high of $42.42.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The business had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same period last year, the company posted $0.98 EPS. The business’s revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, sell-side analysts forecast that RingCentral will post 1.29 earnings per share for the current year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a $0.075 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.30 annualized dividend and a yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RNG shares. Piper Sandler upped their price target on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Rosenblatt Securities boosted their target price on shares of RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a report on Friday, February 20th. Robert W. Baird raised their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Morgan Stanley lifted their price target on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Finally, Mizuho increased their price objective on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, RingCentral presently has a consensus rating of “Hold” and a consensus price target of $35.63.

Insider Activity

In other RingCentral news, COO Kira Makagon sold 22,196 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40. Following the sale, the chief operating officer directly owned 339,545 shares of the company’s stock, valued at $11,935,006.75. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tarun Arora sold 8,840 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the completion of the transaction, the chief accounting officer directly owned 75,492 shares of the company’s stock, valued at approximately $3,071,769.48. This trade represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 259,526 shares of company stock valued at $9,225,128 over the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On RingCentral

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its position in shares of RingCentral by 98.5% during the 3rd quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock valued at $26,000 after purchasing an additional 447 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after buying an additional 738 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in RingCentral during the third quarter worth $30,000. Jones Financial Companies Lllp boosted its stake in RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock worth $37,000 after buying an additional 464 shares during the period. Finally, Covestor Ltd increased its position in RingCentral by 198.5% during the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

About RingCentral

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.