RingCentral, Inc. $RNG Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 150.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,976,995 shares of the software maker’s stock after purchasing an additional 1,187,437 shares during the period. Quantinno Capital Management LP owned approximately 2.35% of RingCentral worth $73,524,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RNG. LSV Asset Management boosted its stake in shares of RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after buying an additional 1,686,900 shares during the period. AQR Capital Management LLC increased its position in RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares during the period. Alyeska Investment Group L.P. acquired a new position in RingCentral in the 3rd quarter valued at about $53,365,000. Marshall Wace LLP raised its stake in RingCentral by 4.4% during the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after acquiring an additional 75,709 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in RingCentral by 0.7% during the 4th quarter. First Trust Advisors LP now owns 1,619,722 shares of the software maker’s stock valued at $46,778,000 after acquiring an additional 11,534 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Amy Guggenheim Shenkan sold 1,265 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the sale, the director directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert I. Theis sold 2,530 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total transaction of $101,908.40. Following the transaction, the director owned 30,834 shares of the company’s stock, valued at $1,241,993.52. This trade represents a 7.58% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 38,628 shares of company stock worth $1,656,201. 7.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RNG shares. Rosenblatt Securities reissued a “buy” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Mizuho boosted their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.40.

RingCentral Price Performance

Shares of NYSE:RNG opened at $56.88 on Wednesday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 45.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14. The business’s 50 day simple moving average is $40.96 and its 200-day simple moving average is $37.22. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $57.21.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, equities analysts anticipate that RingCentral, Inc. will post 2.86 earnings per share for the current year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.125 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s payout ratio is presently 40.00%.

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.