RingCentral, Inc. $RNG Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in RingCentral, Inc. (NYSE:RNG) by 412.7% during the first quarter, HoldingsChannel reports. The fund owned 177,966 shares of the software maker’s stock after buying an additional 143,254 shares during the period. Janus Henderson Group PLC’s holdings in RingCentral were worth $6,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RNG. WealthCollab LLC lifted its stake in shares of RingCentral by 59.7% in the 1st 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. Meeder Asset Management Inc. raised its holdings in RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after acquiring an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in RingCentral by 269.3% during the fourth 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. lifted its position in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in RingCentral in the third quarter valued at $30,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insider Activity at RingCentral

In other RingCentral news, CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the sale, the chief accounting officer directly owned 68,100 shares in the company, valued at approximately $2,928,300. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction on 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 owned 212,724 shares of the company’s stock, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,628 shares of company stock worth $1,656,201. 7.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley boosted their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Needham & Company LLC restated a “buy” rating on shares of RingCentral in a research report on Monday, July 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Oppenheimer restated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.40.

RingCentral Price Performance

RNG opened at $61.33 on Thursday. The business has a 50 day simple moving average of $42.74 and a 200-day simple moving average of $38.44. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $62.14. The stock has a market capitalization of $5.12 billion, a P/E ratio of 49.06, a P/E/G ratio of 1.05 and a beta of 1.10.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same quarter last year, the company earned $1.06 earnings per share. 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. Research analysts anticipate that RingCentral, Inc. will post 2.88 EPS for the current year.

RingCentral Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. This is a boost 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 is 24.00%.

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.