VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.76 Million Position in RingCentral, Inc. $RNG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of RingCentral, Inc. (NYSE:RNG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,733 shares of the software maker’s stock, valued at approximately $2,757,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. WealthCollab LLC raised 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 acquiring an additional 259 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after acquiring an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. increased 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of RingCentral in the 3rd quarter worth about $30,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Royal Bank Of Canada initiated coverage on RingCentral in a report on Thursday, September 3rd. They issued an “outperform” rating and a $85.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $50.00 price objective on shares of RingCentral in a research note on Friday, July 24th. Mizuho increased their target price on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, RingCentral has an average rating of “Hold” and an average price target of $56.00.

RingCentral Trading Down 1.2%

Shares of RingCentral stock opened at $68.79 on Friday. The business’s 50 day simple moving average is $57.35 and its 200-day simple moving average is $45.72. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 55.03, a PEG ratio of 1.20 and a beta of 1.14. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $77.95.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Sell-side analysts predict that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s dividend payout ratio is presently 40.00%.

Insider Activity at RingCentral

In other news, CAO Tarun Arora sold 1,876 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $65.26, for a total transaction of $122,427.76. Following the completion of the transaction, the chief accounting officer owned 80,384 shares in the company, valued at approximately $5,245,859.84. This represents a 2.28% decrease in their ownership of the stock. 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, CEO Vladimir Shmunis sold 15,556 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $71.78, for a total transaction of $1,116,609.68. Following the completion of the sale, the chief executive officer directly owned 190,271 shares in the company, valued at approximately $13,657,652.38. This trade represents a 7.56% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 46,799 shares of company stock valued at $3,248,018. Company insiders own 7.30% of the company’s stock.

RingCentral Company Profile

RingCentral, Inc is a cloud communications and collaboration company that provides business communications software through a subscription-based platform. Its services are designed to help organizations manage voice, messaging, video meetings, team collaboration and other communications across devices and locations.

The company’s offerings include RingEX, its unified communications platform; RingCentral Video for online meetings and collaboration; RingCentral Events for virtual and hybrid events; and contact center products, including RingCX.