Hsbc Holdings PLC Purchases 44,018 Shares of RingCentral, Inc. $RNG

Hsbc Holdings PLC increased its position in shares of RingCentral, Inc. (NYSE:RNG) by 76.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,445 shares of the software maker’s stock after acquiring an additional 44,018 shares during the quarter. Hsbc Holdings PLC’s holdings in RingCentral were worth $2,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in RingCentral by 9.0% during the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock worth $283,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP grew its position in shares of RingCentral by 14.8% during the 1st quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock worth $3,949,000 after buying an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of RingCentral by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock worth $6,467,000 after buying an additional 5,398 shares during the period. Creative Planning bought a new stake in shares of RingCentral during the second quarter worth approximately $274,000. Finally, Invesco Ltd. lifted its holdings in RingCentral by 10.8% in the second quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after buying an additional 13,446 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Stock Performance

Shares of NYSE RNG opened at $41.94 on Friday. The stock has a market cap of $3.52 billion, a P/E ratio of 44.62, a P/E/G ratio of 1.20 and a beta of 1.14. The firm has a 50 day moving average price of $40.78 and a 200 day moving average price of $35.94. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business 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. Analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s dividend payout ratio is currently 31.91%.

Insider Buying and Selling at RingCentral

In other RingCentral news, CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $43.00, for a total value 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 approximately $2,928,300. The trade was a 5.04% 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the sale, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This trade represents a 4.13% 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 a total of 45,451 shares of company stock worth $1,933,565 in the last three months. 7.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on RNG. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Robert W. Baird set a $45.00 price target on RingCentral in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Morgan Stanley upped their price objective on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Needham & Company LLC increased their target price on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.00.

RingCentral Company 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.