Foster & Motley Inc. Makes New $394,000 Investment in RingCentral, Inc. $RNG

Foster & Motley Inc. purchased a new stake in shares of RingCentral, Inc. (NYSE:RNG) during the 2nd quarter, HoldingsChannel reports. The firm purchased 10,116 shares of the software maker’s stock, valued at approximately $394,000.

A number of other hedge funds have also modified their holdings of RNG. WealthCollab LLC raised its stake in shares of RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position 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 buying an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in RingCentral in the 3rd quarter worth approximately $30,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RingCentral

In other RingCentral news, Director Robert I. Theis sold 2,530 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total value of $101,908.40. Following the sale, the director directly owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred on 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 of the company’s stock, valued at $7,815,749.94. This trade represents a 4.00% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 34,052 shares of company stock worth $1,506,498 over the last quarter. Company insiders own 7.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RNG. Mizuho raised their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley raised their target price on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research report on Friday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.40.

RingCentral Stock Performance

Shares of NYSE RNG opened at $65.57 on Friday. The company has a market capitalization of $5.48 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. The company’s fifty day moving average price is $47.54 and its 200 day moving average price is $41.37. RingCentral, Inc. has a 1 year low of $24.14 and a 1 year high of $68.45.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company 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. On average, equities analysts expect that RingCentral, Inc. will post 2.88 EPS for the current year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.125 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is presently 40.00%.

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.