RingCentral (NYSE:RNG) Director Sells $51,346.35 in Stock

RingCentral, Inc. (NYSE:RNG) Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction 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 sale, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Stock Down 2.2%

Shares of RNG traded down $0.92 during midday trading on Thursday, hitting $40.07. The company’s stock had a trading volume of 1,351,183 shares, compared to its average volume of 1,443,254. RingCentral, Inc. has a one year low of $23.59 and a one year high of $49.85. 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. The company’s fifty day simple moving average is $40.75 and its two-hundred day simple moving average is $35.52.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share 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 business had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same period last year, the firm posted $1.00 earnings per share. RingCentral’s 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. On average, research analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RNG shares. Jefferies Financial Group restated a “hold” rating and issued a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Wells Fargo & Company upped their price target on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Rosenblatt Securities increased their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a report on Friday, May 8th. Finally, Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, RingCentral presently has a consensus rating of “Hold” and an average price target of $43.00.

Institutional Trading of RingCentral

Institutional investors have recently modified their holdings of the business. Invenomic Capital Management LP increased its holdings in RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock worth $42,013,000 after purchasing an additional 55,088 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in RingCentral during the 3rd quarter worth $843,000. Clark Capital Management Group Inc. raised its holdings in shares of RingCentral by 103.3% in the third quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after purchasing an additional 154,188 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its position in shares of RingCentral by 124.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after purchasing an additional 50,122 shares in the last quarter. Finally, Capital World Investors boosted its holdings in RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after purchasing an additional 2,031,861 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

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.