RingCentral, Inc. $RNG Stake Cut by Diversified Trust Co

Diversified Trust Co cut its holdings in RingCentral, Inc. (NYSE:RNG) by 47.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,309 shares of the software maker’s stock after selling 26,053 shares during the period. Diversified Trust Co’s holdings in RingCentral were worth $1,090,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings 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 valued at $29,000 after purchasing an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of RingCentral by 70.5% during 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 period. Harvest Fund Management Co. Ltd bought a new stake in shares of RingCentral in the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC lifted its holdings in shares of RingCentral by 70.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock worth $44,000 after purchasing an additional 639 shares during the last quarter. Finally, Covestor Ltd boosted its position in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after purchasing an additional 1,060 shares during the period. Institutional investors own 98.61% of the company’s stock.

RingCentral Stock Performance

NYSE:RNG opened at $35.43 on Wednesday. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 1.02 and a beta of 1.14. The business has a fifty day moving average of $40.92 and a 200-day moving average of $35.13.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same period last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities research analysts predict that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Announces Dividend

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 dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

Insiders Place Their Bets

In related news, CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total transaction of $325,359.99. Following the sale, the chief financial officer owned 169,282 shares of the company’s stock, valued at $7,815,749.94. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction dated 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 directly owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This represents a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 41,656 shares of company stock worth $1,780,310. 7.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RNG shares. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.00.

About RingCentral

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.