Jupiter Asset Management Ltd. Grows Position in RingCentral, Inc. $RNG

Jupiter Asset Management Ltd. increased its holdings in RingCentral, Inc. (NYSE:RNG) by 11.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,456,270 shares of the software maker’s stock after purchasing an additional 149,532 shares during the period. Jupiter Asset Management Ltd.’s holdings in RingCentral were worth $42,057,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of RNG. Vanguard Group Inc. grew its stake in shares of RingCentral by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after acquiring an additional 129,444 shares during the period. Capital World Investors lifted its position in RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after purchasing an additional 2,031,861 shares during the period. LSV Asset Management boosted its holdings in RingCentral by 142.4% in the fourth 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. Alyeska Investment Group L.P. purchased a new stake in RingCentral in the third quarter worth approximately $53,365,000. Finally, Marshall Wace LLP grew its position in RingCentral by 4.4% in the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock worth $50,870,000 after purchasing an additional 75,709 shares during the period. Institutional investors own 98.61% of the company’s stock.

Insider Buying and Selling

In other RingCentral news, CFO Vaibhav Agarwal sold 4,044 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.06, for a total transaction of $170,090.64. Following the sale, the chief financial officer owned 132,181 shares in the company, valued at approximately $5,559,532.86. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 RingCentral stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the transaction, the chief operating officer directly owned 212,724 shares in the company, valued at $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 ninety days, insiders sold 62,237 shares of company stock valued at $2,472,398. 7.30% of the stock is owned by corporate insiders.

RingCentral Price Performance

Shares of RNG stock opened at $41.98 on Friday. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 1.22 and a beta of 1.13. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $48.57. The firm has a fifty day moving average price of $39.93 and a 200-day moving average price of $33.58.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. During the same period in the previous year, the business earned $1.00 earnings per share. RingCentral’s quarterly revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Equities research analysts expect that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s payout ratio is 31.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Rosenblatt Securities increased their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 8th. Piper Sandler upped their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Mizuho upped their price target on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, RingCentral presently has an average rating of “Hold” and a consensus target price of $43.00.

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.