Oregon Public Employees Retirement Fund Buys Shares of 17,292 RingCentral, Inc. $RNG

Oregon Public Employees Retirement Fund purchased a new position in shares of RingCentral, Inc. (NYSE:RNG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,292 shares of the software maker’s stock, valued at approximately $643,000.

Other institutional investors also recently made changes to their positions in the company. Abel Hall LLC bought a new position in shares of RingCentral in the first quarter valued at approximately $237,000. DGS Capital Management LLC raised its holdings in RingCentral by 45.7% during the first quarter. DGS Capital Management LLC now owns 12,042 shares of the software maker’s stock worth $448,000 after purchasing an additional 3,778 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in RingCentral in the first quarter worth approximately $209,000. New York State Teachers Retirement System lifted its position in RingCentral by 366.2% in the first quarter. New York State Teachers Retirement System now owns 34,255 shares of the software maker’s stock worth $1,274,000 after purchasing an additional 26,908 shares during the period. Finally, Private Advisor Group LLC bought a new position in RingCentral during the 1st quarter valued at $273,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RNG has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley raised their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Rosenblatt Securities upped their price target on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 8th. Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.00.

RingCentral Stock Down 1.6%

Shares of NYSE RNG opened at $41.37 on Wednesday. The stock’s fifty day simple moving average is $40.69 and its 200 day simple moving average is $36.15. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 1.24 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business 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 business posted $1.00 earnings per share. RingCentral’s 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. As a group, analysts anticipate that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Announces Dividend

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

Insider Buying and Selling at RingCentral

In other RingCentral news, CFO Vaibhav Agarwal sold 7,047 shares of RingCentral stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99. Following the transaction, the chief financial officer directly owned 169,282 shares in the company, valued at approximately $7,815,749.94. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business’s stock in a transaction 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 sale, the director directly owned 29,372 shares in the company, valued at approximately $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 45,451 shares of company stock valued at $1,933,565 over the last three months. 7.30% of the stock is owned by insiders.

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.