Louisiana State Employees Retirement System Acquires New Holdings in RingCentral, Inc. $RNG

Louisiana State Employees Retirement System bought a new stake in RingCentral, Inc. (NYSE:RNG) during the first quarter, Holdings Channel.com reports. The firm bought 33,600 shares of the software maker’s stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RNG. Rothschild Investment LLC increased its holdings in shares of RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after buying an additional 366 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in shares of RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock valued at $378,000 after acquiring an additional 409 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares in the last quarter. Xponance LLC grew its position in RingCentral by 4.0% during the 4th quarter. Xponance LLC now owns 12,059 shares of the software maker’s stock worth $348,000 after acquiring an additional 464 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in RingCentral by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 68,575 shares of the software maker’s stock worth $1,944,000 after acquiring an additional 524 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

RingCentral Stock Up 0.2%

Shares of NYSE:RNG opened at $40.07 on Friday. The firm has a market cap of $3.36 billion, a P/E ratio of 42.63, a P/E/G ratio of 1.18 and a beta of 1.14. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The business has a fifty day simple moving average of $40.72 and a 200 day simple moving average of $35.55.

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 negative return on equity of 33.75% and a net margin of 3.31%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities research analysts expect that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RNG. Wells Fargo & Company upped their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Needham & Company LLC lifted their price target on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Oppenheimer restated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a report on Friday, May 8th. Rosenblatt Securities upped their price objective on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Morgan Stanley raised their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Insiders Place Their Bets

In other RingCentral news, COO Kira Makagon sold 16,988 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the completion of the sale, the chief operating officer owned 212,724 shares of the company’s stock, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total transaction of $325,359.99. Following the transaction, the chief financial officer owned 169,282 shares of the company’s stock, valued at approximately $7,815,749.94. The trade was a 4.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 45,451 shares of company stock valued at $1,933,565 over the last three months. Insiders own 7.30% of the company’s stock.

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.