First Trust Advisors LP Raises Holdings in RingCentral, Inc. $RNG

First Trust Advisors LP lifted its position in shares of RingCentral, Inc. (NYSE:RNG) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,608,188 shares of the software maker’s stock after acquiring an additional 173,616 shares during the quarter. First Trust Advisors LP’s holdings in RingCentral were worth $45,576,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. LSV Asset Management bought a new stake in RingCentral in the 3rd quarter valued at about $33,577,000. AQR Capital Management LLC lifted its holdings in RingCentral by 27.6% during the second quarter. AQR Capital Management LLC now owns 1,626,454 shares of the software maker’s stock valued at $45,728,000 after purchasing an additional 351,347 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in RingCentral by 50.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 812,518 shares of the software maker’s stock worth $23,035,000 after purchasing an additional 274,037 shares during the period. Marshall Wace LLP increased its stake in shares of RingCentral by 17.0% in the second quarter. Marshall Wace LLP now owns 1,719,269 shares of the software maker’s stock worth $48,741,000 after purchasing an additional 249,329 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of RingCentral by 22.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after purchasing an additional 228,202 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RNG. Oppenheimer restated an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Robert W. Baird boosted their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Morgan Stanley increased their target price on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, Piper Sandler raised their price target on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, RingCentral has a consensus rating of “Hold” and an average price target of $34.04.

RingCentral Trading Down 4.5%

Shares of RingCentral stock opened at $38.85 on Thursday. The company’s 50-day moving average price is $30.60 and its 200-day moving average price is $29.67. RingCentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.42. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 1.60 and a beta of 1.14.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The business had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. During the same quarter in the prior year, the firm posted $0.98 EPS. RingCentral’s revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, sell-side analysts predict that RingCentral, Inc. will post 1.29 earnings per share for the current year.

RingCentral Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is presently 62.50%.

Insider Activity

In related news, CFO Vaibhav Agarwal sold 18,680 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $36.33, for a total transaction of $678,644.40. Following the completion of the transaction, the chief financial officer directly owned 139,493 shares in the company, valued at $5,067,780.69. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Shmunis sold 95,831 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value of $3,410,625.29. Following the completion of the transaction, the chief executive officer owned 126,685 shares in the company, valued at $4,508,719.15. This represents a 43.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 259,526 shares of company stock worth $9,225,128. Company insiders own 7.30% of the company’s stock.

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.