Empowered Funds LLC Decreases Stock Position in RingCentral, Inc. $RNG

Empowered Funds LLC trimmed its holdings in RingCentral, Inc. (NYSE:RNG) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,615 shares of the software maker’s stock after selling 9,934 shares during the period. Empowered Funds LLC’s holdings in RingCentral were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. WealthCollab LLC lifted its holdings 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 purchasing an additional 259 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in RingCentral in the 3rd quarter valued at approximately $30,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $50.00 target price on shares of RingCentral in a report on Friday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a research report on Friday, May 8th. Morgan Stanley boosted their target price on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.40.

RingCentral Trading Up 0.7%

NYSE RNG opened at $61.93 on Friday. The business’s 50-day moving average price is $43.13 and its 200 day moving average price is $38.69. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $62.14. The company has a market capitalization of $5.17 billion, a PE ratio of 49.55, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. 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 predict that RingCentral, Inc. will post 2.88 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 represents a $0.50 annualized dividend and a yield of 0.8%. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. RingCentral’s dividend payout ratio (DPR) is currently 40.00%.

Insider Activity at RingCentral

In other news, 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 transaction of $51,346.35. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the transaction, the chief financial officer directly owned 169,282 shares in the company, valued at $7,815,749.94. This trade represents a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 38,628 shares of company stock valued at $1,656,201 over the last 90 days. 7.30% of the stock is currently owned by insiders.

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.