Maryland State Retirement & Pension System Acquires New Stake in RingCentral, Inc. $RNG

Maryland State Retirement & Pension System acquired a new stake in RingCentral, Inc. (NYSE:RNG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,705 shares of the software maker’s stock, valued at approximately $584,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of RingCentral by 269.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. increased its stake in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after buying an additional 424 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in RingCentral during the 3rd quarter valued at about $30,000. SJS Investment Consulting Inc. lifted its holdings in RingCentral by 598.3% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock valued at $45,000 after buying an additional 1,047 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in RingCentral by 70.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after buying an additional 639 shares during the period. 98.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RNG has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Robert W. Baird set a $45.00 price target on RingCentral in a report on Friday, May 8th. Rosenblatt Securities raised their price objective on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley lifted their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, RingCentral presently has an average rating of “Hold” and an average target price of $43.00.

Insiders Place Their Bets

In related news, Director Robert I. Theis sold 2,530 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total transaction of $101,908.40. Following the sale, the director owned 30,834 shares of the company’s stock, valued at $1,241,993.52. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction dated 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 in the company, valued at $9,049,278.96. This trade represents a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 45,451 shares of company stock worth $1,933,565. Insiders own 7.30% of the company’s stock.

RingCentral Stock Performance

NYSE:RNG opened at $41.85 on Friday. The firm has a 50-day simple moving average of $40.51 and a 200-day simple moving average of $36.32. RingCentral, Inc. has a one year low of $23.59 and a one year high of $49.85. The firm has a market cap of $3.51 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.20 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (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 the consensus estimate 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 period last year, the firm 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, research analysts predict that RingCentral, Inc. will post 2.78 EPS for the current fiscal year.

RingCentral Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend 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%.

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.