21,199 Shares in RingCentral, Inc. $RNG Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in RingCentral, Inc. (NYSE:RNG) during the second quarter, HoldingsChannel reports. The firm purchased 21,199 shares of the software maker’s stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WealthCollab LLC increased 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 during the last quarter. Versant Capital Management Inc grew its stake in RingCentral by 2.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after buying an additional 259 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after acquiring an additional 362 shares during the period. Rothschild Investment LLC raised its holdings in RingCentral by 15.8% in the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock valued at $77,000 after acquiring an additional 366 shares during the period. Finally, Sovereign Financial Group Inc. lifted its position in RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after acquiring an additional 409 shares during the last quarter. 98.61% of the stock is owned by institutional investors.

Insider Transactions at RingCentral

In other news, Director Amy Shenkan sold 1,265 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the transaction, the director owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 15,556 shares of RingCentral stock in a transaction that occurred on Wednesday, September 2nd. The shares were 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 in the company, valued at $13,657,652.38. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders have sold 46,799 shares of company stock valued at $3,248,018. Company insiders own 7.30% of the company’s stock.

RingCentral Stock Performance

NYSE:RNG opened at $69.62 on Thursday. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $77.95. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 55.70, a PEG ratio of 1.21 and a beta of 1.14. The stock has a fifty day moving average price of $56.77 and a 200-day moving average price of $45.51.

RingCentral (NYSE:RNG) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $650.53 million. During the same period in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter 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. Research analysts predict that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Piper Sandler boosted their price target on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Needham & Company LLC upped their price objective on RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. Mizuho increased their price objective on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada began coverage on RingCentral in a report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.