RingCentral, Inc. (NYSE:RNG – Get Free Report) Director Robert Theis sold 2,530 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total transaction of $101,908.40. Following the sale, the director directly owned 30,834 shares of the company’s stock, valued at $1,241,993.52. This represents a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RingCentral Stock Down 2.2%
RingCentral stock traded down $0.92 during mid-day trading on Thursday, hitting $40.07. 1,351,183 shares of the stock were exchanged, compared to its average volume of 1,443,254. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 1.21 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85. The firm’s fifty day simple moving average is $40.75 and its two-hundred day simple moving average is $35.52.
RingCentral (NYSE:RNG – Get Free Report) last posted its quarterly earnings data 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. 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 analysts’ expectations of $642.73 million. During the same period in the prior year, the company posted $1.00 earnings per share. RingCentral’s revenue for the quarter 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. As a group, analysts forecast that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.
RingCentral Announces Dividend
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Oppenheimer restated an “outperform” rating and set a $50.00 target price on shares of RingCentral in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Morgan Stanley increased their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price objective on shares of RingCentral in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, RingCentral currently has an average rating of “Hold” and an average price target of $43.00.
Get Our Latest Report on RingCentral
Institutional Investors Weigh In On RingCentral
Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of RingCentral by 2.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock worth $449,000 after purchasing an additional 259 shares in the last quarter. Janus Henderson Group PLC raised its holdings in RingCentral by 412.7% during the first quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock worth $6,620,000 after buying an additional 143,254 shares during the last quarter. California State Teachers Retirement System raised its holdings in RingCentral by 14.3% during the first quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock worth $3,082,000 after buying an additional 10,341 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of RingCentral by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock valued at $511,000 after buying an additional 1,246 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of RingCentral by 150.4% during the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after buying an additional 1,187,437 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.
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.
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