Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in RingCentral, Inc. $RNG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in RingCentral, Inc. (NYSE:RNG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,526 shares of the software maker’s stock, valued at approximately $503,000.

Several other institutional investors have also recently added to or reduced their stakes in RNG. Pictet Asset Management Holding SA boosted its holdings in shares of RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after buying an additional 362 shares during the period. Rothschild Investment LLC raised its stake in RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after acquiring an additional 366 shares during the period. Sovereign Financial Group Inc. raised its stake in RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after acquiring an additional 409 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Xponance LLC lifted its holdings in RingCentral by 4.0% in the fourth quarter. Xponance LLC now owns 12,059 shares of the software maker’s stock worth $348,000 after acquiring an additional 464 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

Insider Activity

In related news, Director Amy Guggenheim Shenkan sold 1,265 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kira Makagon sold 16,988 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the transaction, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 45,451 shares of company stock worth $1,933,565. 7.30% of the stock is owned by corporate insiders.

RingCentral Stock Performance

Shares of RNG stock opened at $41.11 on Friday. 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 $3.45 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The business’s fifty day moving average is $40.42 and its 200-day moving average is $36.36.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. During the same period in the prior year, the company earned $1.00 EPS. RingCentral’s revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Equities research analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on RNG. Rosenblatt Securities upped their price objective on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Robert W. Baird set a $45.00 target price on RingCentral in a research note on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Oppenheimer restated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research report on Friday, May 8th. Finally, Morgan Stanley increased their price objective on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.