BNP Paribas Financial Markets Reduces Stock Position in RingCentral, Inc. $RNG

Key Points

• BNP Paribas Financial Markets cut its RingCentral stake by 36.1% in the fourth quarter, selling 429,608 shares and leaving it with 759,546 shares worth about $21.9 million.
• RingCentral reported better-than-expected quarterly results, posting $1.20 EPS on revenue of $644.2 million, while revenue rose 5.3% year over year. The company also issued FY 2026 guidance of $4.85 to $5.01 EPS.
• The company announced a quarterly dividend of $0.075 per share, and analysts currently rate the stock a consensus Hold with a target price of $43.00.

BNP Paribas Financial Markets lowered its position in shares of RingCentral, Inc. (NYSE:RNG - Free Report) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 759,546 shares of the software maker's stock after selling 429,608 shares during the period. BNP Paribas Financial Markets owned about 0.88% of RingCentral worth $21,936,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in RingCentral by 269.3% during the 4th 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 period. Harvest Fund Management Co. Ltd purchased a new stake in RingCentral during the 3rd quarter valued at $30,000. Jones Financial Companies Lllp boosted its position in RingCentral by 61.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker's stock valued at $37,000 after buying an additional 464 shares during the period. Global Retirement Partners LLC boosted its position in RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker's stock valued at $44,000 after buying an additional 639 shares during the period. Finally, Covestor Ltd boosted its position in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker's stock valued at $46,000 after buying an additional 1,060 shares during the period. Hedge funds and other institutional investors own 98.61% of the company's stock.

RingCentral Trading Down 3.9%

Shares of NYSE RNG opened at $42.29 on Friday. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85. The firm has a market capitalization of $3.55 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The firm has a fifty day simple moving average of $40.86 and a two-hundred day simple moving average of $34.28.

RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. The business had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. 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, sell-side analysts predict that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 2nd. RingCentral's dividend payout ratio (DPR) is presently 31.91%.

Analyst Ratings Changes

Several brokerages have weighed in on RNG. Needham & Company LLC increased their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Morgan Stanley upped their price objective 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. Piper Sandler upped their price objective on shares of RingCentral from $28.00 to $37.00 and gave the stock a "neutral" rating in a report on Monday, February 23rd. UBS Group set a $38.00 price objective on shares of RingCentral in a report on Friday, February 20th. Finally, Rosenblatt Securities upped their price objective on shares of RingCentral from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, RingCentral currently has a consensus rating of "Hold" and a consensus target price of $43.00.

Insider Buying and Selling

In related news, CFO Vaibhav Agarwal sold 7,047 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 169,282 shares in the company, valued at $7,815,749.94. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, CAO Tarun Arora sold 8,840 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total transaction of $359,699.60. Following the completion of the transaction, the chief accounting officer owned 75,492 shares of the company's stock, valued at approximately $3,071,769.48. The trade was a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 50,496 shares of company stock worth $2,140,010 in the last three months. 7.30% of the stock is owned by corporate insiders.

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.

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