Vise Technologies Inc. Takes $430,000 Position in Ringcentral, Inc. $RNG

Vise Technologies Inc. purchased a new stake in Ringcentral, Inc. (NYSE:RNG) in the second quarter, Holdings Channel reports. The firm purchased 15,168 shares of the software maker’s stock, valued at approximately $430,000.

Several other institutional investors also recently bought and sold shares of RNG. Parallel Advisors LLC lifted its holdings in shares of Ringcentral by 256.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker’s stock worth $42,000 after buying an additional 1,066 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Ringcentral in the second quarter valued at about $49,000. New Age Alpha Advisors LLC bought a new stake in shares of Ringcentral in the first quarter valued at about $49,000. PNC Financial Services Group Inc. lifted its stake in Ringcentral by 26.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker’s stock worth $72,000 after acquiring an additional 615 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ringcentral by 29.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,705 shares of the software maker’s stock worth $162,000 after acquiring an additional 1,284 shares in the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $31.09, for a total transaction of $32,240.33. Following the completion of the sale, the chief accounting officer directly owned 110,626 shares in the company, valued at approximately $3,439,362.34. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Shmunis sold 46,932 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $28.95, for a total value of $1,358,681.40. Following the completion of the transaction, the chief executive officer directly owned 462,429 shares in the company, valued at approximately $13,387,319.55. The trade was a 9.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 78,312 shares of company stock valued at $2,315,201. Insiders own 6.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RNG. UBS Group reduced their price target on shares of Ringcentral from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Oppenheimer raised shares of Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Morgan Stanley increased their target price on Ringcentral from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ringcentral in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of Ringcentral in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ringcentral presently has an average rating of “Hold” and a consensus price target of $31.54.

Ringcentral Stock Performance

Shares of NYSE RNG opened at $27.27 on Friday. Ringcentral, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $42.19. The company has a market cap of $2.47 billion, a PE ratio of -194.74, a P/E/G ratio of 1.33 and a beta of 1.33. The business has a 50-day simple moving average of $29.03 and a two-hundred day simple moving average of $28.19.

Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Monday, November 3rd. The software maker reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The firm had revenue of $638.66 million for the quarter, compared to the consensus estimate of $635.39 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. On average, sell-side analysts predict that Ringcentral, Inc. will post 1.29 earnings per share for the current fiscal year.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.