Boston Partners Purchases 18,271 Shares of Ringcentral, Inc. $RNG

Key Points

• Boston Partners increased its stake in RingCentral, Inc. by 35.5%, acquiring an additional 18,271 shares, bringing its total to 69,672 shares valued at approximately $1.73 million.
• Institutional investors collectively own 98.61% of RingCentral's stock, indicating strong institutional interest in the company.
• Recent analyst evaluations show varied opinions on RingCentral's stock, with target prices ranging from $22.00 to $40.00, while a consensus rating remains at "Hold."

Boston Partners boosted its position in Ringcentral, Inc. (NYSE:RNG - Free Report) by 35.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,672 shares of the software maker's stock after purchasing an additional 18,271 shares during the period. Boston Partners owned approximately 0.08% of Ringcentral worth $1,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Ringcentral during the 4th quarter valued at $49,000. New Age Alpha Advisors LLC acquired a new position in Ringcentral during the first quarter worth $49,000. PNC Financial Services Group Inc. increased its position in Ringcentral by 26.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock worth $72,000 after buying an additional 615 shares during the last quarter. Quarry LP increased its position in Ringcentral by 84.1% during the fourth quarter. Quarry LP now owns 3,501 shares of the software maker's stock worth $123,000 after buying an additional 1,599 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Ringcentral in the first quarter valued at about $145,000. Institutional investors and hedge funds own 98.61% of the company's stock.

Insider Activity

In other Ringcentral news, CFO Vaibhav Agarwal sold 2,443 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $30.70, for a total transaction of $75,000.10. Following the completion of the transaction, the chief financial officer owned 226,448 shares in the company, valued at $6,951,953.60. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tarun Arora sold 7,776 shares of Ringcentral stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $28.00, for a total transaction of $217,728.00. Following the completion of the transaction, the chief accounting officer owned 114,497 shares of the company's stock, valued at $3,205,916. This trade represents a 6.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,745 shares of company stock valued at $2,844,722. 6.97% of the stock is owned by company insiders.

Ringcentral Stock Down 2.1%

RNG traded down $0.6280 during midday trading on Wednesday, reaching $29.4420. 1,277,607 shares of the company's stock were exchanged, compared to its average volume of 1,459,041. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -210.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. Ringcentral, Inc. has a one year low of $20.58 and a one year high of $42.19. The business has a 50-day simple moving average of $27.62 and a two-hundred day simple moving average of $27.37.

Ringcentral (NYSE:RNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.04. The firm had revenue of $620.40 million during the quarter, compared to analysts' expectations of $617.90 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. As a group, research analysts anticipate that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RNG. Wells Fargo & Company lowered their price target on Ringcentral from $30.00 to $22.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC began coverage on Ringcentral in a research report on Friday, May 9th. They issued a "buy" rating and a $36.00 price target on the stock. Oppenheimer upgraded shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Raymond James Financial reduced their target price on shares of Ringcentral from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Ringcentral from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ringcentral currently has an average rating of "Hold" and an average target price of $30.62.

Ringcentral Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company's products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.