Pacer Advisors Inc. Has $20.54 Million Stock Holdings in RingCentral, Inc. $RNG

Pacer Advisors Inc. trimmed its position in RingCentral, Inc. (NYSE:RNG) by 13.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 552,398 shares of the software maker’s stock after selling 85,464 shares during the period. Pacer Advisors Inc. owned about 0.66% of RingCentral worth $20,544,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in RNG. Alyeska Investment Group L.P. bought a new position in RingCentral in the third quarter valued at about $53,365,000. LSV Asset Management raised its holdings in RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. Quantinno Capital Management LP lifted its position in RingCentral by 150.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after purchasing an additional 1,187,437 shares during the period. AQR Capital Management LLC boosted its stake in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of RingCentral by 138.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after purchasing an additional 471,559 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

RNG has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Wells Fargo & Company upped their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Piper Sandler increased 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. Finally, Robert W. Baird set a $45.00 price target on RingCentral in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

RingCentral Price Performance

Shares of NYSE:RNG opened at $57.14 on Tuesday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 45.71, a P/E/G ratio of 0.97 and a beta of 1.14. The firm’s 50 day simple moving average is $41.99 and its 200 day simple moving average is $37.97. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $58.98.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same quarter last year, the firm earned $1.06 EPS. RingCentral’s quarterly revenue was up 5.9% compared to the same quarter last year. 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 research analysts expect that RingCentral, Inc. will post 2.88 earnings per share for the current year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.125 per share. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 6th. RingCentral’s payout ratio is 40.00%.

Insider Buying and Selling

In other RingCentral news, Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director directly owned 29,372 shares in the company, valued at approximately $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 SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kira Makagon sold 16,988 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the transaction, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at approximately $9,049,278.96. The trade was a 7.40% 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. Insiders have sold 38,628 shares of company stock worth $1,656,201 over the last ninety days. Insiders own 7.30% of the company’s stock.

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.