Louisiana State Employees Retirement System Makes New Investment in RingCentral, Inc. $RNG

Louisiana State Employees Retirement System bought a new position in shares of RingCentral, Inc. (NYSE:RNG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 33,600 shares of the software maker’s stock, valued at approximately $1,250,000.

A number of other institutional investors also recently modified their holdings of RNG. EverSource Wealth Advisors LLC grew 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 valued at $29,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of RingCentral during the third quarter worth approximately $30,000. Global Retirement Partners LLC raised its position in shares of RingCentral by 70.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after buying an additional 639 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of RingCentral by 198.5% in the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after buying an additional 1,060 shares during the period. Institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RNG. Morgan Stanley increased their price target 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 lifted their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Oppenheimer reiterated an “outperform” rating and set a $50.00 target price on shares of RingCentral in a research report on Friday, May 8th. Robert W. Baird set a $45.00 target price on RingCentral in a report on Friday, May 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.00.

RingCentral Trading Up 0.2%

NYSE RNG opened at $40.07 on Friday. The firm’s 50 day simple moving average is $40.72 and its 200 day simple moving average is $35.55. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.63, a P/E/G ratio of 1.18 and a beta of 1.14. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. During the same period in the previous year, the business earned $1.00 earnings per share. The company’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, equities research analysts forecast that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s payout ratio is 31.91%.

Insider Activity at RingCentral

In other RingCentral news, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the transaction, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the transaction, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at approximately $7,815,749.94. The trade was a 4.00% 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 have sold 45,451 shares of company stock worth $1,933,565 in the last three months. Insiders own 7.30% of the company’s stock.

RingCentral Company 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.