RingCentral (NYSE:RNG) Director Amy Guggenheim Shenkan Sells 1,265 Shares

RingCentral, Inc. (NYSE:RNG) Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the sale, the director directly owned 29,372 shares in the company, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Stock Down 2.2%

Shares of RingCentral stock opened at $40.07 on Friday. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The stock has a market capitalization of $3.36 billion, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. The company has a 50-day simple moving average of $40.75 and a 200 day simple moving average of $35.52.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities analysts anticipate that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 2nd. RingCentral’s payout ratio is presently 31.91%.

Hedge Funds Weigh In On RingCentral

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WealthCollab LLC grew its stake in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. raised its holdings in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after buying an additional 410 shares during the period. EverSource Wealth Advisors LLC lifted its position in RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of RingCentral in the 3rd quarter valued at about $30,000. 98.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RNG. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Rosenblatt Securities raised their price target on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 8th. Needham & Company LLC boosted their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Finally, Robert W. Baird set a $45.00 price objective on RingCentral in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.00.

RingCentral Company Profile

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.