Corient Private Wealth LLC Has $716,000 Stock Holdings in RingCentral, Inc. $RNG

Corient Private Wealth LLC raised its holdings in RingCentral, Inc. (NYSE:RNG) by 194.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,783 shares of the software maker’s stock after buying an additional 16,365 shares during the quarter. Corient Private Wealth LLC’s holdings in RingCentral were worth $716,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RNG. Invenomic Capital Management LP raised its holdings in shares of RingCentral by 3.9% in the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock worth $42,013,000 after acquiring an additional 55,088 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in RingCentral during the third quarter worth $843,000. Clark Capital Management Group Inc. grew its stake in shares of RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock worth $8,600,000 after acquiring an additional 154,188 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in RingCentral by 124.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after buying an additional 50,122 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in RingCentral by 12.1% during the third quarter. First Trust Advisors LP now owns 1,608,188 shares of the software maker’s stock worth $45,576,000 after acquiring an additional 173,616 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 3,615 shares of RingCentral 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 completion of the transaction, 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 SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 45,451 shares of company stock valued at $1,933,565. Corporate insiders own 7.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Needham & Company LLC upped their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Finally, Robert W. Baird set a $45.00 target price on RingCentral in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.00.

RingCentral Stock Up 0.2%

RingCentral stock opened at $40.07 on Friday. The firm has a fifty day simple moving average of $40.72 and a two-hundred day simple moving average of $35.55. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $49.85. The company has a market capitalization of $3.36 billion, a PE ratio of 42.63, a P/E/G ratio of 1.18 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. 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, equities analysts expect that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.7%. RingCentral’s payout ratio is presently 31.91%.

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.