Foster & Motley Inc. Invests $394,000 in RingCentral, Inc. $RNG

Foster & Motley Inc. acquired a new stake in shares of RingCentral, Inc. (NYSE:RNG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,116 shares of the software maker’s stock, valued at approximately $394,000.

Several other institutional investors also recently bought and sold shares of the business. WealthCollab LLC raised its stake in RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after buying an additional 259 shares in the last quarter. Meeder Asset Management Inc. boosted its position in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after acquiring an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after acquiring an additional 738 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral in the 3rd quarter valued at $30,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RingCentral

In related news, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer directly owned 212,724 shares in the company, valued at $9,049,278.96. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 1,688 shares of RingCentral stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $65.50, for a total transaction of $110,564.00. Following the completion of the sale, the chief financial officer owned 169,282 shares of the company’s stock, valued at $11,087,971. This trade represents a 0.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 34,052 shares of company stock valued at $1,506,498. Insiders own 7.30% of the company’s stock.

RingCentral Trading Down 0.6%

Shares of RNG opened at $65.57 on Friday. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $68.45. The stock has a fifty day moving average price of $47.54 and a 200-day moving average price of $41.37. The firm has a market cap of $5.48 billion, a PE ratio of 52.46, a P/E/G ratio of 1.14 and a beta of 1.10.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The firm had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. During the same period in the previous year, the business earned $1.06 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, research analysts forecast that RingCentral, Inc. will post 2.88 EPS for the current year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, August 6th. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s payout ratio is presently 40.00%.

Analysts Set New Price Targets

RNG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, July 24th. Oppenheimer reiterated an “outperform” rating and issued 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 shares of RingCentral in a research report on Friday, May 8th. Finally, Mizuho raised their price target on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.40.

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.