18,750 Shares in RingCentral, Inc. $RNG Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of RingCentral, Inc. (NYSE:RNG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,750 shares of the software maker’s stock, valued at approximately $697,000.

Other hedge funds also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in shares of RingCentral in the third quarter worth approximately $53,365,000. LSV Asset Management lifted its position in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares during the period. AQR Capital Management LLC boosted its stake in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of RingCentral by 138.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after purchasing an additional 471,559 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of RingCentral by 130.5% during the third quarter. Two Sigma Investments LP now owns 490,255 shares of the software maker’s stock worth $13,894,000 after buying an additional 277,577 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insiders Place Their Bets

In related news, COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 212,724 shares in the company, valued at approximately $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. The sale 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. Also, Director Robert I. Theis sold 2,530 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total transaction of $101,908.40. Following the completion of the sale, the director owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. The trade was a 7.58% 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. Insiders have sold 45,451 shares of company stock worth $1,933,565 over the last quarter. Insiders own 7.30% of the company’s stock.

Analysts Set New Price Targets

RNG has been the subject of a number of analyst reports. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research report on Saturday, May 9th. Morgan Stanley boosted their target price 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. Finally, Rosenblatt Securities raised their price target on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.00.

RingCentral Stock Performance

RingCentral stock opened at $41.11 on Friday. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The firm’s 50-day simple moving average is $40.42 and its 200 day simple moving average is $36.36. The stock has a market cap of $3.45 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its earnings results 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. The company had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.RingCentral’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $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, analysts predict that RingCentral, Inc. will post 2.78 EPS for the current fiscal year.

RingCentral Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid 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 dividend payout ratio (DPR) is currently 31.91%.

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.