Lazard Asset Management LLC Has $14.44 Million Holdings in RingCentral, Inc. $RNG

Lazard Asset Management LLC decreased its holdings in RingCentral, Inc. (NYSE:RNG) by 26.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 388,157 shares of the software maker’s stock after selling 141,472 shares during the period. Lazard Asset Management LLC owned about 0.46% of RingCentral worth $14,436,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. WealthCollab LLC boosted its stake in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares during the period. Pictet Asset Management Holding SA raised its stake in RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after acquiring an additional 362 shares during the period. Rothschild Investment LLC raised its stake in RingCentral by 15.8% in the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock valued at $77,000 after acquiring an additional 366 shares during the period. Sovereign Financial Group Inc. lifted its holdings in RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock valued at $378,000 after purchasing an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Stock Performance

RNG opened at $57.50 on Thursday. The stock has a fifty day moving average of $41.24 and a 200-day moving average of $37.42. The company has a market capitalization of $4.82 billion, a P/E ratio of 46.00, a P/E/G ratio of 1.61 and a beta of 1.14. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $58.98.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. During the same period in the prior year, the company posted $1.06 earnings per share. RingCentral’s revenue was up 5.9% compared to the same quarter last year. 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 research analysts predict that RingCentral, Inc. will post 2.88 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 6th. RingCentral’s payout ratio is 24.00%.

Insider Activity at RingCentral

In related news, COO Kira Makagon sold 16,988 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total transaction of $722,669.52. Following the sale, the chief operating officer owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The sale 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the transaction, the director owned 29,372 shares in the company, valued at approximately $1,192,209.48. This trade represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 38,628 shares of company stock valued at $1,656,201. 7.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RNG. 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. Needham & Company LLC restated a “buy” rating on shares of RingCentral in a research note on Monday, July 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Mizuho increased their price target on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Rosenblatt Securities restated a “buy” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

About RingCentral

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.