LSV Asset Management Has $82.94 Million Stock Holdings in RingCentral, Inc. $RNG

LSV Asset Management raised its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 142.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,871,700 shares of the software maker’s stock after purchasing an additional 1,686,900 shares during the quarter. LSV Asset Management’s holdings in RingCentral were worth $82,935,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in RingCentral during the 3rd quarter valued at $30,000. Jones Financial Companies Lllp lifted its holdings in RingCentral by 61.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after purchasing an additional 464 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after purchasing an additional 639 shares during the last quarter. Covestor Ltd lifted its holdings in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after purchasing an additional 1,060 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in RingCentral by 103.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker’s stock valued at $52,000 after purchasing an additional 925 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

RNG has been the subject of several research reports. Piper Sandler raised their price target on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. UBS Group set a $38.00 price objective on RingCentral in a research report on Friday, February 20th. Wells Fargo & Company increased their price objective on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.00.

RingCentral Stock Performance

Shares of NYSE RNG opened at $43.57 on Friday. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $48.57. The stock has a market capitalization of $3.66 billion, a P/E ratio of 46.35, a PEG ratio of 1.28 and a beta of 1.13. The stock’s fifty day moving average is $39.56 and its 200 day moving average is $33.13.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. During the same quarter last year, the business earned $1.00 earnings per share. RingCentral’s revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Equities research analysts forecast that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a $0.075 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

Insider Buying and Selling

In related news, CAO Tarun Arora sold 8,840 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the transaction, the chief accounting officer owned 75,492 shares in the company, valued at approximately $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kira Makagon sold 22,196 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $35.15, for a total value of $780,189.40. Following the completion of the transaction, the chief operating officer owned 339,545 shares in the company, valued at $11,935,006.75. The trade was a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 219,158 shares of company stock worth $7,906,365 over the last three months. Company insiders own 7.30% of the company’s stock.

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.