Pinnacle Associates Ltd. Makes New $610,000 Investment in RingCentral, Inc. $RNG

Pinnacle Associates Ltd. acquired a new stake in RingCentral, Inc. (NYSE:RNG) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,514 shares of the software maker’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in RingCentral by 22.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after buying an additional 228,202 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of RingCentral by 544.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock worth $2,605,000 after acquiring an additional 77,663 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of RingCentral by 79.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock valued at $9,610,000 after acquiring an additional 150,537 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of RingCentral in the 3rd quarter valued at about $843,000. Finally, Vise Technologies Inc. acquired a new stake in shares of RingCentral during the 2nd quarter worth about $430,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Stock Down 1.9%

RNG opened at $38.15 on Friday. RingCentral, Inc. has a 52 week low of $20.58 and a 52 week high of $42.42. The business has a 50 day moving average price of $30.79 and a two-hundred day moving average price of $29.73. The company has a market cap of $3.30 billion, a PE ratio of 79.48, a P/E/G ratio of 1.53 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. During the same period last year, the business posted $0.98 EPS. The company’s revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, sell-side analysts expect that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. RingCentral’s payout ratio is currently 62.50%.

Insider Activity

In other news, COO Kira Makagon sold 46,960 shares of RingCentral stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.49, for a total value of $1,666,610.40. Following the sale, the chief operating officer owned 369,524 shares of the company’s stock, valued at $13,114,406.76. The trade was a 11.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tarun Arora sold 8,840 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total transaction of $359,699.60. Following the transaction, the chief accounting officer owned 75,492 shares in the company, valued at approximately $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 259,526 shares of company stock valued at $9,225,128. 7.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RNG. Morgan Stanley boosted their target price on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a report on Friday, February 20th. Rosenblatt Securities boosted their price objective on shares of RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Robert W. Baird upped their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Finally, UBS Group set a $38.00 target price on shares of RingCentral in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.04.

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.