Sterling Capital Management LLC Purchases 54,383 Shares of RingCentral, Inc. $RNG

Sterling Capital Management LLC lifted its position in RingCentral, Inc. (NYSE:RNG) by 474.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,846 shares of the software maker’s stock after purchasing an additional 54,383 shares during the quarter. Sterling Capital Management LLC owned 0.08% of RingCentral worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RNG. EverSource Wealth Advisors LLC lifted its holdings in shares of RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after acquiring an additional 738 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in RingCentral in the third quarter valued at about $30,000. Rockefeller Capital Management L.P. increased its stake in RingCentral by 70.5% in the fourth 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. Global Retirement Partners LLC raised its position in RingCentral by 70.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock worth $44,000 after purchasing an additional 639 shares in the last quarter. Finally, Covestor Ltd raised its position in RingCentral by 198.5% in the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock worth $46,000 after purchasing an additional 1,060 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

Insider Activity at RingCentral

In other RingCentral news, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the sale, the chief financial officer owned 169,282 shares in the company, valued at approximately $7,815,749.94. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,928,300. This represents a 5.04% 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. 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 over the last ninety days. 7.30% of the stock is owned by insiders.

RingCentral Price Performance

Shares of RNG opened at $36.96 on Monday. The company has a market capitalization of $3.10 billion, a P/E ratio of 39.32, a PEG ratio of 1.09 and a beta of 1.14. RingCentral, Inc. has a one year low of $23.59 and a one year high of $49.85. The business’s 50 day simple moving average is $40.81 and its 200-day simple moving average is $35.27.

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 analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. During the same period last year, the firm posted $1.00 EPS. The business’s revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, sell-side analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a $0.075 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is 31.91%.

Analyst Ratings Changes

RNG has been the topic of several analyst reports. Needham & Company LLC upped their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Robert W. Baird set a $45.00 price target on RingCentral in a research note on Friday, May 8th. Rosenblatt Securities upped their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company increased 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. Finally, Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.