Maryland State Retirement & Pension System Buys New Stake in RingCentral, Inc. $RNG

Maryland State Retirement & Pension System bought a new stake in RingCentral, Inc. (NYSE:RNG) in the 1st quarter, HoldingsChannel reports. The fund bought 15,705 shares of the software maker’s stock, valued at approximately $584,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of 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. boosted its position in shares of RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in RingCentral during the 3rd quarter worth $30,000. Global Retirement Partners LLC grew its stake in RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock worth $44,000 after buying an additional 639 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in RingCentral by 598.3% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock valued at $45,000 after buying an additional 1,047 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RingCentral

In other news, CAO Tarun Arora sold 3,615 shares of RingCentral stock in a transaction that occurred on Friday, May 29th. The shares were 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 of the company’s stock, valued at $2,928,300. The trade was a 5.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the transaction, the director owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% 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. Over the last ninety days, insiders have sold 45,451 shares of company stock worth $1,933,565. 7.30% of the stock is currently owned by insiders.

RingCentral Price Performance

NYSE RNG opened at $41.85 on Friday. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85. The company has a market capitalization of $3.51 billion, a PE ratio of 44.52, a P/E/G ratio of 1.20 and a beta of 1.14. The company has a fifty day moving average of $40.51 and a 200 day moving average of $36.32.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) 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 business had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter 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. Research analysts expect that RingCentral, Inc. will post 2.78 earnings per share for the current 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. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, June 2nd. RingCentral’s dividend payout ratio is currently 31.91%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley increased their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 target price on shares of RingCentral in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.00.

RingCentral 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.