Pacer Advisors Inc. Cuts Stake in RingCentral, Inc. $RNG

Pacer Advisors Inc. reduced its position in shares of RingCentral, Inc. (NYSE:RNG) by 11.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 637,862 shares of the software maker’s stock after selling 83,848 shares during the quarter. Pacer Advisors Inc.’s holdings in RingCentral were worth $18,421,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RNG. EverSource Wealth Advisors LLC lifted its stake in shares of RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after buying an additional 738 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of RingCentral during the third quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its position in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after acquiring an additional 464 shares in the last quarter. Global Retirement Partners LLC raised its holdings in RingCentral by 70.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock worth $44,000 after acquiring an additional 639 shares during the last quarter. Finally, Covestor Ltd lifted its position in RingCentral by 198.5% in the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,060 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Agarwal sold 7,047 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total value of $325,359.99. Following the transaction, the chief financial officer owned 169,282 shares in the company, valued at $7,815,749.94. This represents a 4.00% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Tarun Arora sold 3,615 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the completion of the transaction, the chief accounting officer directly owned 68,100 shares in the company, valued at approximately $2,928,300. The trade was a 5.04% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 41,656 shares of company stock valued at $1,780,310 in the last quarter. 7.30% of the stock is currently owned by insiders.

RingCentral Trading Up 0.0%

NYSE:RNG opened at $35.03 on Friday. The company has a market cap of $2.94 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.14. The company has a 50 day simple moving average of $40.93 and a two-hundred day simple moving average of $35.01. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Research analysts forecast that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.9%. RingCentral’s dividend payout ratio is presently 31.91%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RNG shares. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Piper Sandler lifted their price objective on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Finally, Rosenblatt Securities upped their target price on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.00.

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.