RingCentral, Inc. $RNG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,840 shares of the software maker’s stock after selling 13,515 shares during the period. Wellington Management Group LLP owned about 0.42% of RingCentral worth $13,559,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in RingCentral in the second quarter valued at about $826,000. Globeflex Capital L P purchased a new position in RingCentral during the second quarter worth $4,474,000. Great Lakes Advisors LLC purchased a new position in RingCentral in the 2nd quarter valued at about $409,000. Foster & Motley Inc. acquired a new position in shares of RingCentral in the second quarter valued at approximately $394,000. Finally, Plato Investment Management Ltd acquired a new position in shares of RingCentral in the second quarter valued at approximately $117,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

RingCentral Price Performance

NYSE RNG opened at $73.32 on Tuesday. RingCentral, Inc. has a 1-year low of $24.14 and a 1-year high of $77.95. The firm has a market capitalization of $6.12 billion, a P/E ratio of 58.66, a P/E/G ratio of 1.27 and a beta of 1.14. The business’s 50-day simple moving average is $55.57 and its 200-day simple moving average is $44.94.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The firm had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same quarter in the prior year, the company earned $1.06 EPS. The company’s 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. On average, equities research analysts expect that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This is an increase from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is currently 40.00%.

Insiders Place Their Bets

In related news, Director Robert Theis sold 2,530 shares of RingCentral stock in a transaction 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 transaction, the director owned 30,834 shares in the company, valued at approximately $1,241,993.52. The trade was a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 15,556 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $71.78, for a total transaction of $1,116,609.68. Following the sale, the chief executive officer directly owned 190,271 shares of the company’s stock, valued at approximately $13,657,652.38. This trade represents a 7.56% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 46,799 shares of company stock worth $3,248,018. 7.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RNG. Oppenheimer raised their target price on shares of RingCentral from $50.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. Mizuho increased their price target on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their price objective on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th. Piper Sandler lifted their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Morgan Stanley upped 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. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.

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.