Wealth Enhancement Advisory Services LLC Has $881,000 Position in RingCentral, Inc. $RNG

Wealth Enhancement Advisory Services LLC boosted its holdings in RingCentral, Inc. (NYSE:RNG) by 242.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,589 shares of the software maker’s stock after purchasing an additional 21,665 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in RingCentral were worth $881,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RNG. Fort Washington Investment Advisors Inc. OH lifted its stake in RingCentral by 22.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after acquiring an additional 228,202 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in RingCentral by 544.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after acquiring an additional 77,663 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in RingCentral during the 3rd quarter valued at $843,000. Invenomic Capital Management LP lifted its stake in RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after acquiring an additional 55,088 shares in the last quarter. Finally, Oak Harvest Investment Services bought a new position in RingCentral during the 3rd quarter valued at $1,873,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Agarwal sold 18,680 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $36.33, for a total value of $678,644.40. Following the sale, the chief financial officer directly owned 139,493 shares in the company, valued at approximately $5,067,780.69. The trade was a 11.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Tarun Arora sold 8,840 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total value of $359,699.60. Following the completion of the sale, the chief accounting officer owned 75,492 shares in the company, valued at $3,071,769.48. This represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 253,031 shares of company stock valued at $9,035,345. 7.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley raised their price objective on RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Needham & Company LLC raised their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Piper Sandler raised their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, RingCentral has an average rating of “Hold” and a consensus target price of $35.63.

RingCentral Price Performance

NYSE RNG opened at $38.11 on Tuesday. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 79.41, a PEG ratio of 1.49 and a beta of 1.14. RingCentral, Inc. has a one year low of $20.58 and a one year high of $42.42. The business’s fifty day moving average is $34.05 and its 200-day moving average is $30.47.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $644.03 million for the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Research analysts expect that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, March 9th. RingCentral’s payout ratio is presently 62.50%.

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.