Access Investment Management LLC Acquires New Position in RingCentral, Inc. $RNG

Key Points

• Access Investment Management acquired 104,330 RingCentral shares worth approximately $7.8 million, giving it a 0.12% stake; institutional investors collectively own 98.61% of the company.
• RingCentral exceeded quarterly expectations with adjusted EPS of $1.33 versus $1.28 expected and revenue of $676.04 million, up 5.8% year over year. The company also raised its full-year 2026 guidance and reported paid AI product annual recurring revenue above $400 million.
• RNG shares opened at $83.46, below the $98.14 52-week high, while analysts maintain a consensus “Hold” rating and an average price target of $89.69. Insiders sold shares during the quarter, including transactions by the CEO and COO conducted under pre-arranged plans.

Access Investment Management LLC acquired a new stake in shares of RingCentral, Inc. (NYSE:RNG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 104,330 shares of the software maker's stock, valued at approximately $7,793,000. RingCentral makes up about 2.0% of Access Investment Management LLC's holdings, making the stock its 21st biggest holding. Access Investment Management LLC owned about 0.12% of RingCentral at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. WealthCollab LLC increased 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 valued at $26,000 after purchasing an additional 259 shares during the period. Fortitude Family Office LLC boosted its position in shares of RingCentral by 128.1% during the third quarter. Fortitude Family Office LLC now owns 349 shares of the software maker's stock worth $26,000 after buying an additional 196 shares during the period. Meeder Asset Management Inc. grew its holdings in RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker's stock worth $27,000 after buying an additional 410 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker's stock worth $30,000 after buying an additional 424 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in RingCentral by 119.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker's stock valued at $41,000 after acquiring an additional 297 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Stock Performance

Shares of NYSE RNG opened at $83.46 on Monday. RingCentral, Inc. has a 1 year low of $24.14 and a 1 year high of $98.14. The firm has a market cap of $6.97 billion, a P/E ratio of 11.04, a PEG ratio of 1.44 and a beta of 1.10. The stock has a fifty day moving average price of $74.01 and a two-hundred day moving average price of $54.35.

• It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM

RingCentral (NYSE:RNG - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.05. The company had revenue of $676.04 million for the quarter, compared to the consensus estimate of $667.30 million. RingCentral had a negative return on equity of 50.15% and a net margin of 25.27%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. On average, research analysts predict that RingCentral, Inc. will post 2.89 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.1250 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.50 annualized dividend and a yield of 0.6%. RingCentral's payout ratio is 6.61%.

Key RingCentral News

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: Raised full-year guidance: RingCentral now expects fiscal 2026 adjusted EPS of $5.07–$5.12, well above the $4.61 analyst consensus, and revenue of approximately $2.7 billion versus expectations of $2.6 billion. Fourth-quarter EPS guidance of $1.32–$1.37 also exceeds the $1.24 consensus, while revenue guidance is slightly above estimates. RingCentral guidance
• Positive Sentiment: Beat quarterly expectations: Third-quarter EPS came in at $1.33 versus the $1.28 consensus, while revenue of $676.04 million exceeded estimates of $667.30 million and increased 5.8% year over year. RingCentral Q3 earnings
• Positive Sentiment: AI growth is becoming material: Paid artificial-intelligence product annual recurring revenue surpassed $400 million, with reports indicating that AI monetization roughly doubled. This supports expectations for stronger growth and margin expansion. RingCentral long-term investor takeaways
• Positive Sentiment: Balance sheet improved: RingCentral reduced gross debt below $1 billion ahead of schedule, while earnings and cash flow improved. The company also declared a quarterly dividend of $0.125 per share, equal to a $0.50 annualized payout. RingCentral outlook and cash flow
• Neutral Sentiment: Analyst targets moved higher: Needham raised its target to $110 with a Buy rating, FBN Securities lifted its target to $105, and Morgan Stanley increased its target to $91 while retaining Equal Weight. Wells Fargo also raised its target to $85 but maintained Equal Weight, suggesting some analysts view the near-term upside as more limited.
• Neutral Sentiment: At approximately $83.46, RingCentral remains below its $98.14 52-week high but trades well above its 50-day and 200-day moving averages, indicating strong momentum alongside a higher valuation.

Insider Transactions at RingCentral

In other news, COO Kira Makagon sold 36,185 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $70.11, for a total transaction of $2,536,930.35. Following the completion of the transaction, the chief operating officer owned 245,385 shares in the company, valued at approximately $17,203,942.35. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 11,165 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $76.58, for a total transaction of $855,015.70. Following the transaction, the chief executive officer owned 179,106 shares of the company's stock, valued at approximately $13,715,937.48. This trade represents a 5.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 84,625 shares of company stock valued at $6,024,953 in the last quarter. 7.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RNG shares. Robert W. Baird set a $95.00 target price on RingCentral in a research note on Friday. Piper Sandler increased their price target on RingCentral from $43.00 to $94.00 and gave the stock a "neutral" rating in a research note on Friday. Rosenblatt Securities reissued a "buy" rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Mizuho set a $85.00 price target on RingCentral in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of RingCentral from $65.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $89.69.

About RingCentral

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company's offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.

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