RingCentral, Inc. $RNG Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in RingCentral, Inc. (NYSE:RNG) by 150.4% during the first quarter, Holdings Channel reports. The firm owned 1,976,995 shares of the software maker’s stock after purchasing an additional 1,187,437 shares during the period. Quantinno Capital Management LP’s holdings in RingCentral were worth $73,524,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in shares of RingCentral during the 3rd quarter worth $53,365,000. LSV Asset Management raised its position in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after buying an additional 1,686,900 shares during the period. AQR Capital Management LLC boosted its holdings in RingCentral by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares during the last quarter. Russell Investments Group Ltd. grew its position in RingCentral by 138.6% during the third quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after acquiring an additional 471,559 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in RingCentral during the first quarter valued at about $13,719,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RingCentral

In other RingCentral news, Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the transaction, the director owned 29,372 shares in the company, valued at $1,192,209.48. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert I. Theis sold 2,530 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total transaction of $101,908.40. Following the completion of the sale, the director directly owned 30,834 shares of the company’s stock, valued at $1,241,993.52. This trade represents a 7.58% decrease in their position. 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. Insiders have sold 38,628 shares of company stock worth $1,656,201 over the last 90 days. 7.30% of the stock is owned by corporate insiders.

RingCentral Price Performance

NYSE:RNG opened at $56.88 on Wednesday. The business’s 50-day moving average is $40.96 and its two-hundred day moving average is $37.22. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $57.21. The firm has a market capitalization of $4.77 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million for the quarter, compared to analysts’ expectations of $650.53 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Equities analysts anticipate that RingCentral, Inc. will post 2.86 EPS for the current year.

RingCentral Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 annualized dividend and a yield of 0.9%. RingCentral’s dividend payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a report 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. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research report on Friday, May 8th. Needham & Company LLC restated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Finally, Morgan Stanley lifted their price target on shares of 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 given a Hold rating to the stock. According to data from MarketBeat, RingCentral presently has a consensus rating of “Hold” and a consensus price target of $44.40.

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.