Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Stake in RingCentral, Inc. $RNG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in RingCentral, Inc. (NYSE:RNG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,526 shares of the software maker’s stock, valued at approximately $503,000.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after buying an additional 738 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of 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. Harvest Fund Management Co. Ltd bought a new stake in shares of RingCentral in the third quarter valued at approximately $30,000. Global Retirement Partners LLC grew its stake 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 worth $44,000 after acquiring an additional 639 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of RingCentral by 598.3% in the first quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock worth $45,000 after acquiring an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley lifted their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. 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 report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, RingCentral currently has an average rating of “Hold” and a consensus price target of $43.00.

Insider Transactions at RingCentral

In other RingCentral news, Director Robert I. Theis sold 2,530 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total value of $101,908.40. Following the completion of the transaction, the director directly owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director owned 29,372 shares in the company, valued at $1,192,209.48. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 45,451 shares of company stock worth $1,933,565. Corporate insiders own 7.30% of the company’s stock.

RingCentral Stock Down 1.6%

NYSE:RNG opened at $41.11 on Friday. The firm has a market cap of $3.45 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85. The company’s 50-day moving average price is $40.42 and its two-hundred day moving average price is $36.36.

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

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

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.