RingCentral (NYSE:RNG) Director Robert Theis Sells 2,530 Shares of Stock

RingCentral, Inc. (NYSE:RNG) Director Robert Theis sold 2,530 shares of RingCentral stock in a transaction that occurred on Thursday, July 2nd. The stock was 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. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Stock Down 2.2%

RNG stock opened at $40.07 on Friday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85. The stock’s fifty day simple moving average is $40.75 and its 200-day simple moving average is $35.52.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the firm posted $1.00 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, analysts anticipate that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on RNG. Needham & Company LLC lifted their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Rosenblatt Securities upped 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. Morgan Stanley increased their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price target on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, RingCentral has an average rating of “Hold” and a consensus price target of $43.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. WealthCollab LLC boosted its position in shares of RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. increased its position in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after acquiring an additional 410 shares during the period. EverSource Wealth Advisors LLC raised its stake in RingCentral by 269.3% during the 4th 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 last quarter. Rockefeller Capital Management L.P. raised its stake in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in RingCentral in the 3rd quarter valued at $30,000. 98.61% of the stock is owned by institutional investors.

RingCentral Company 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.