Fairvoy Private Wealth LLC Purchases New Holdings in RingCentral, Inc. $RNG

Fairvoy Private Wealth LLC purchased a new stake in RingCentral, Inc. (NYSE:RNG) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 16,091 shares of the software maker’s stock, valued at approximately $1,202,000.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of RingCentral during the 1st quarter worth approximately $697,000. Insight Wealth Strategies LLC acquired a new stake in shares of RingCentral in the 2nd quarter valued at approximately $6,636,000. Maryland State Retirement & Pension System acquired a new stake in shares of RingCentral in the 1st quarter valued at approximately $584,000. Janus Henderson Group PLC boosted its holdings in shares of RingCentral by 412.7% in the 1st quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock valued at $6,620,000 after buying an additional 143,254 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of RingCentral in the second quarter valued at $826,000. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho boosted their target price on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wells Fargo & Company upped their price target on shares of RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Oppenheimer increased their price target on shares of RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada initiated coverage on shares of RingCentral in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $85.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.00.

RingCentral Trading Up 5.2%

Shares of NYSE:RNG traded up $3.93 on Monday, hitting $79.37. The company had a trading volume of 1,286,875 shares, compared to its average volume of 1,987,802. RingCentral, Inc. has a 1-year low of $24.14 and a 1-year high of $81.90. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 63.50, a P/E/G ratio of 1.31 and a beta of 1.10. The stock has a 50 day moving average price of $72.34 and a 200 day moving average price of $52.82.

RingCentral (NYSE:RNG) last issued 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 company had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Sell-side analysts anticipate that RingCentral, Inc. will post 2.89 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.1250 dividend. This is an increase from RingCentral’s previous quarterly dividend of $0.0750. The ex-dividend date was Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.6%. RingCentral’s dividend payout ratio (DPR) is currently 40.00%.

Insiders Place Their Bets

In other RingCentral news, COO Kira Makagon sold 36,185 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $70.11, for a total value of $2,536,930.35. Following the transaction, the chief operating officer directly owned 245,385 shares of the company’s stock, valued at $17,203,942.35. This represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Shenkan sold 1,264 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $78.89, for a total transaction of $99,716.96. Following the sale, the director owned 28,108 shares of the company’s stock, valued at $2,217,440.12. This trade represents a 4.30% 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. Insiders have sold 84,625 shares of company stock worth $6,024,953 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

RingCentral Company Profile

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company’s offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.