Globeflex Capital L P Takes $4.47 Million Position in RingCentral, Inc. $RNG

Globeflex Capital L P acquired a new stake in shares of RingCentral, Inc. (NYSE:RNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 114,766 shares of the software maker’s stock, valued at approximately $4,474,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in RingCentral in the 1st quarter valued at approximately $697,000. Robertson Stephens Wealth Management LLC boosted its position in RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after buying an additional 50,122 shares during the period. LSV Asset Management grew its holdings in RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in RingCentral by 11.4% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock worth $42,057,000 after acquiring an additional 149,532 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in RingCentral by 60.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock valued at $8,096,000 after acquiring an additional 105,145 shares during the period. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

RNG has been the subject of several analyst reports. Piper Sandler raised their price target on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Morgan Stanley raised their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Needham & Company LLC reaffirmed a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Finally, Wells Fargo & Company lifted their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.40.

RingCentral Stock Performance

Shares of NYSE RNG opened at $66.92 on Monday. The company has a market capitalization of $5.59 billion, a P/E ratio of 53.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a 52-week low of $24.14 and a 52-week high of $68.45. The company’s 50 day moving average price is $48.11 and its 200-day moving average price is $41.66.

RingCentral (NYSE:RNG) last posted its quarterly earnings data 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 net margin of 4.27% and a negative return on equity of 34.49%. The company had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. During the same period in the prior year, the company posted $1.06 earnings per share. RingCentral’s revenue for the quarter was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Analysts forecast that RingCentral, Inc. will post 2.88 earnings per share for the current year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, August 6th. This is an increase from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is 40.00%.

Insider Activity

In other news, Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the transaction, the director directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert I. Theis sold 2,530 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total value of $101,908.40. Following the sale, the director owned 30,834 shares in the company, valued at approximately $1,241,993.52. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 34,052 shares of company stock worth $1,506,498. 7.30% of the stock is owned by insiders.

RingCentral 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.