Ringcentral, Inc. $RNG Shares Purchased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH grew its stake in shares of Ringcentral, Inc. (NYSE:RNG) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,224,090 shares of the software maker’s stock after acquiring an additional 228,202 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 1.35% of Ringcentral worth $34,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RNG. Parallel Advisors LLC raised its stake 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 valued at $42,000 after purchasing an additional 1,066 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Ringcentral during the second quarter valued at approximately $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ringcentral by 103.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker’s stock worth $52,000 after buying an additional 925 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Ringcentral by 45.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the software maker’s stock worth $120,000 after buying an additional 1,323 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Ringcentral in the 1st quarter worth approximately $145,000. Institutional investors own 98.61% of the company’s stock.

Insider Buying and Selling

In other Ringcentral news, CAO Tarun Arora sold 3,888 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $28.70, for a total value of $111,585.60. Following the completion of the transaction, the chief accounting officer directly owned 93,412 shares in the company, valued at $2,680,924.40. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kira Makagon sold 14,798 shares of Ringcentral stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $28.11, for a total transaction of $415,971.78. Following the completion of the transaction, the chief operating officer directly owned 349,358 shares in the company, valued at approximately $9,820,453.38. This trade represents a 4.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 115,838 shares of company stock worth $3,164,064. Company insiders own 7.30% of the company’s stock.

Ringcentral Stock Performance

Ringcentral stock opened at $29.55 on Tuesday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 211.05, a price-to-earnings-growth ratio of 1.52 and a beta of 1.29. Ringcentral, Inc. has a 1 year low of $20.58 and a 1 year high of $37.23. The firm’s 50 day moving average price is $28.76 and its two-hundred day moving average price is $28.67.

Ringcentral (NYSE:RNG) last released its quarterly earnings data on Monday, November 3rd. The software maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $638.66 million during the quarter, compared to analyst estimates of $635.39 million. Ringcentral had a negative return on equity of 22.38% and a net margin of 0.53%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS and its Q4 2025 guidance at 1.120-1.150 EPS. As a group, equities analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RNG. Wells Fargo & Company began coverage on Ringcentral in a research report on Tuesday, September 30th. They set an “equal weight” rating and a $32.00 price target on the stock. Morgan Stanley boosted their target price on shares of Ringcentral from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Ringcentral in a research report on Monday, December 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Ringcentral in a report on Tuesday, November 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $32.00 price objective on shares of Ringcentral in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.54.

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.