RingCentral (NYSE:RNG) CAO Sells $39,204.54 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 919 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $42.66, for a total value of $39,204.54. Following the transaction, the chief accounting officer directly owned 71,715 shares of the company’s stock, valued at $3,059,361.90. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarun Arora also recently made the following trade(s):

• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total value of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The stock was sold at an average price of $40.69, for a total value of $359,699.60.
• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The stock was sold at an average price of $36.14, for a total value of $134,549.22.

RingCentral Stock Up 0.9%

Shares of RNG stock traded up $0.38 during mid-day trading on Thursday, hitting $41.98. 1,191,125 shares of the company’s stock were exchanged, compared to its average volume of 2,220,578. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $48.57. The stock has a 50-day simple moving average of $39.85 and a two-hundred day simple moving average of $33.48. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 1.25 and a beta of 1.13.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. During the same quarter last year, the firm earned $1.00 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

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

Wall Street Analyst Weigh In

RNG has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Piper Sandler lifted their target price on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. UBS Group set a $38.00 target price on RingCentral in a report on Friday, February 20th. Robert W. Baird set a $45.00 price objective on RingCentral in a research report on Friday, May 8th. Finally, Rosenblatt Securities raised their price objective on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.00.

Institutional Trading of RingCentral

Hedge funds and other institutional investors have recently modified their holdings of the business. WealthCollab LLC increased its holdings in 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 buying an additional 259 shares during the last quarter. Meeder Asset Management Inc. increased 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 buying an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after buying an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings 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 buying an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in RingCentral in the third quarter valued at about $30,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.