Sterling Capital Management LLC Purchases 54,383 Shares of RingCentral, Inc. $RNG

Sterling Capital Management LLC grew its position in RingCentral, Inc. (NYSE:RNG) by 474.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 65,846 shares of the software maker’s stock after buying an additional 54,383 shares during the period. Sterling Capital Management LLC’s holdings in RingCentral were worth $2,449,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Invenomic Capital Management LP raised its holdings 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 worth $42,013,000 after purchasing an additional 55,088 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of RingCentral in the 3rd quarter valued at about $843,000. Clark Capital Management Group Inc. boosted its stake in shares of RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after purchasing an additional 154,188 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in shares of RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after buying an additional 50,122 shares during the period. Finally, Capital World Investors raised its stake in shares of RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after buying an additional 2,031,861 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insider Transactions at RingCentral

In other news, CAO Tarun Arora sold 3,615 shares of RingCentral stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the transaction, the chief accounting officer owned 68,100 shares in the company, valued at $2,928,300. The trade was a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, COO Kira Makagon sold 16,988 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the transaction, the chief operating officer owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,656 shares of company stock valued at $1,780,310 over the last 90 days. 7.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Rosenblatt Securities increased their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Needham & Company LLC raised their price target on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Three investment 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 currently has an average rating of “Hold” and a consensus price target of $43.00.

RingCentral Stock Down 0.6%

Shares of NYSE RNG opened at $36.96 on Monday. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $49.85. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 39.32, a P/E/G ratio of 1.09 and a beta of 1.14. The company’s fifty day moving average is $40.81 and its 200-day moving average is $35.27.

RingCentral (NYSE:RNG) last released its quarterly earnings data 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 business had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. On average, research analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is currently 31.91%.

RingCentral 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.