Hillsdale Investment Management Inc. Acquires 15,600 Shares of RingCentral, Inc. $RNG

Hillsdale Investment Management Inc. grew its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 293,250 shares of the software maker’s stock after acquiring an additional 15,600 shares during the period. Hillsdale Investment Management Inc. owned about 0.34% of RingCentral worth $8,469,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RNG. EverSource Wealth Advisors LLC raised its stake in shares of RingCentral by 269.3% during 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of RingCentral during the third quarter valued at $30,000. Jones Financial Companies Lllp raised its stake in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after acquiring an additional 464 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of RingCentral by 70.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after acquiring an additional 639 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of RingCentral by 198.5% during the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

Insider Transactions at RingCentral

In other news, COO Kira Makagon sold 16,988 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the completion of the sale, the chief operating officer directly owned 212,724 shares in the company, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 919 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $42.66, for a total transaction of $39,204.54. Following the completion of the sale, the chief accounting officer owned 71,715 shares of the company’s stock, valued at $3,059,361.90. The trade was a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,237 shares of company stock worth $2,472,398 over the last three months. 7.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RNG. UBS Group set a $38.00 price target on shares of RingCentral in a research note on Friday, February 20th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Needham & Company LLC raised their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.00.

RingCentral Stock Up 3.8%

RNG opened at $43.45 on Friday. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $48.57. The company has a fifty day moving average of $40.06 and a 200-day moving average of $33.65. The stock has a market cap of $3.64 billion, a PE ratio of 46.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping 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 company had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. During the same period in the prior year, the company posted $1.00 earnings per share. RingCentral’s revenue for the quarter was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Sell-side analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. RingCentral’s dividend payout ratio is 31.91%.

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.