Fort Washington Investment Advisors Inc. OH Increases Position in RingCentral, Inc. $RNG

Fort Washington Investment Advisors Inc. OH lifted its stake in RingCentral, Inc. (NYSE:RNG) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,316,598 shares of the software maker’s stock after acquiring an additional 92,508 shares during the period. Fort Washington Investment Advisors Inc. OH owned 1.52% of RingCentral worth $38,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its stake in RingCentral by 98.5% in the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock valued at $26,000 after purchasing an additional 447 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of RingCentral during the third quarter valued at about $30,000. Jones Financial Companies Lllp lifted its position in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after buying an additional 464 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RingCentral by 103.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker’s stock valued at $52,000 after buying an additional 925 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of RingCentral in the 3rd quarter valued at about $66,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Needham & Company LLC raised their target price on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Piper Sandler lifted their price target on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Morgan Stanley upped their price target on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, Rosenblatt Securities increased their price objective on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, RingCentral currently has an average rating of “Hold” and an average price target of $35.63.

Insider Transactions at RingCentral

In related news, COO Kira Makagon sold 46,960 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $35.49, for a total value of $1,666,610.40. Following the transaction, the chief operating officer directly owned 369,524 shares of the company’s stock, valued at $13,114,406.76. This represents a 11.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Tarun Arora sold 8,840 shares of RingCentral stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the sale, the chief accounting officer directly owned 75,492 shares of the company’s stock, valued at approximately $3,071,769.48. This represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,031 shares of company stock valued at $9,035,345 in the last quarter. Insiders own 7.30% of the company’s stock.

RingCentral Stock Up 5.1%

Shares of RingCentral stock opened at $37.53 on Friday. The firm has a market capitalization of $3.25 billion, a P/E ratio of 78.18, a PEG ratio of 1.41 and a beta of 1.14. The company has a 50 day moving average price of $32.55 and a 200 day moving average price of $30.19. RingCentral, Inc. has a 52 week low of $20.58 and a 52 week high of $42.42.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The company had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. During the same quarter in the previous year, the firm earned $0.98 EPS. RingCentral’s revenue was up 4.8% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, research analysts anticipate that RingCentral, Inc. will post 1.29 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s payout ratio is 62.50%.

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.