New York State Teachers Retirement System Buys 26,908 Shares of RingCentral, Inc. $RNG

New York State Teachers Retirement System lifted its position in RingCentral, Inc. (NYSE:RNG) by 366.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,255 shares of the software maker’s stock after purchasing an additional 26,908 shares during the quarter. New York State Teachers Retirement System’s holdings in RingCentral were worth $1,274,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC raised its position in RingCentral by 9.0% in the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock worth $283,000 after purchasing an additional 940 shares during the period. Woodline Partners LP increased its holdings in shares of RingCentral by 14.8% in the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock worth $3,949,000 after buying an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RingCentral by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after acquiring an additional 5,398 shares during the last quarter. Creative Planning purchased a new stake in RingCentral during the 2nd quarter valued at about $274,000. Finally, Invesco Ltd. grew its position in RingCentral by 10.8% during the 2nd quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock worth $3,910,000 after acquiring an additional 13,446 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the sale, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $722,669.52. Following the transaction, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 45,451 shares of company stock valued at $1,933,565. 7.30% of the stock is currently owned by insiders.

RingCentral Trading Up 0.4%

RNG opened at $41.94 on Monday. The stock has a fifty day simple moving average of $40.78 and a two-hundred day simple moving average of $35.98. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85.

RingCentral (NYSE:RNG) last announced its 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 analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business 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. On average, analysts predict that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Rosenblatt Securities increased 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. Wells Fargo & Company upped their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley boosted their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Robert W. Baird set a $45.00 target price on shares of RingCentral in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.00.

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.